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June 28, 2022
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XRP ETP to be listed on Europe’s third largest stock exchange

The XRP ETP will be a product similar to what we saw with Litecoin recently

London-based crypto cash manager CoinShares announced the launch of a new XRP exchange-fund product (ETP).

It will be traded on SIX Swiss, based in Zurich, the third largest stock exchange in the world, with a total market capitalization of more than US $ 1.6 trillion, under the symbol XRPL.

Each unit represents 40 XRP tokens that are currently worth around US $ 68. The basic XRP ETP fee is set at 1.5 percent per year.

In April of this year, CoinShares, Europe’s largest asset manager, also launched a similar product for Litecoin.

Earlier this year, the company also launched Bitcoin and Ethereum-backed ETPs.

US asset managers abandoned XRP

The launch of CoinShares’ XRP product comes after several U.S. money managers decided to abandon the token due to a lawsuit filed against affiliated company Ripple by the U.S. Securities and Exchange Commission.

Bitwise removed the XRP from its index fund the day after the lawsuit was announced.

Grayscale – the largest cryptocurrency asset manager – dissolved its XRP Trust in mid-January in response to the agency’s action.

Despite regulatory problems in the U.S., XRP continues to trade on a number of global exchanges, such as Binance and Huobi, setting new volume records. According reported by U.Today, Swiss Lykke is the only stock exchange that has given in to the #RelistXRP movement so far.

Source: U.Today

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