Switzerland's largest stock exchange, SIX Swiss Exchange, is preparing to launch yet another exchange-traded product (ETP) tied to the XRP token rate. It is reported by CoinDesk .

A product linked to XRP under the ticker AXRP is planned to be hosted by the Swiss company Amun AG. According to its CEO, Hani Rushwan, the appropriate permission from the SIX has already been received.

“We can confidently say that we expect to launch the world's first ETP based on XRP over the next two months ,” he said.

Rashvan also said that his company received permission to launch four more cryptocurrency ETPs – based on Bitcoin Cash (BCH), Litecoin (LTC), Stellar Lumens (XLM) and EOS. The timing of their launch has not yet been determined and will depend on the demand from customers, but as the company expects, this will happen before the end of the year.

SIX introduced its first cryptocurrency ETP for retail and institutional investors in November 2018. It was also released by Amun AG and is trading under the ticker "HODL", including Bitcoin, Ethereum, Litecoin and XRP. Soon enough, “HODL” outperformed similar products based on traditional assets like oil and gold.

According to the publication, according to the rules of SIX Swiss Exchange, ETP are considered passive investment instruments and do not provide for active trading strategies. As a result, they are not considered as collective investment schemes and, therefore, do not need approval or regulation by the Swiss Financial Market Supervision Authority (FINMA)

Additionally, the SIX Swiss Exchange rules state that only the 15 largest capitalization cryptocurrencies can be included in the listing at the time of application, and the projects themselves must be “based on open source code that functions according to the blockchain principles”. Accordingly, the tokens that are distributed through the ICO cannot be listed.

However, as noted by Hani Rashvan, his company also plans to launch its own token, the ETC standard, which will be used to tokenize both cryptocurrency and traditional ETPs.

Recall that on March 5, the SIX Swiss Exchange announced the start of ETP trading based on Ethereum. The exchange also plans to use the Corda blockchain platform from the R3 consortium to create the SIX Digital Exchange (SDX) regulated platform for trading digital assets, settlements and custodial services.

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