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XRP ETP Exists On the Swiss Stock Exchange, Among Top 5 Products by Market Turnover

XRP exchange-traded product (ETP) has been discovered on a Swiss Stock Exchange and features among the top five products by market turnover. The recent news is coming when several speculations linger on the possibility of getting a coin exchange-traded fund (ETF) in the United States.

Notably, there’s a massive layer of uncertainty on the fate of an XRP ETF in the US. This could be related to the prominent legal battle between the US Securities and Exchange Commission (SEC) and the blockchain company Ripple behind XRP.

XRP ETP On SIX Swiss Exchange 

According to a recent tweet from a prominent XRP influencer Darren, an XRP investment vehicle exists in the top European stock exchange. 

There is an $XRP etf on Switzerland’s stock exchange SIX, if you are unaware.

— xrp.Darren🪝 🏴‍☠️ (@Fame21Moore) August 17, 2023

The crypto enthusiast revealed that a leading company for crypto-related investment, SIX Swiss Exchange, now offers XRP ETP products.

The Exchange offers a coin exchange-traded product (ETP) instead of an exchange-traded fund (ETF). An exchange-traded product (ETP) is an investment basket comprising different types of investment vehicles. 

These include exchange-traded funds (ETFs), exchange-traded commodities (ETCs), and exchange-traded notes (ETNs).

XRP Features Among Top 5 ETPs On SIX Swiss Exchange

Further, Darren’s post contained a copy of SIX Swiss Exchange’s latest monthly financial report highlighting all crypto products traded on the platform. These include XRP, Ethereum (ETH), Bitcoin (BTC), Cardano (ADA), Solana (SOL), Cosmos (ATOM), and other 12 assets.

The ETPs were listed according to their performance in the market. Within the category of altcoins, excluding Ethereum, the coin appeared among the top 5 best performers by market turnover.

The report revealed that XRP ETP of “21 Shares Ripple” (AXRP) amassed a total revenue of over $5 million through 447 trading times on the market.

In the same trend, the XRP ETP of Ripple/Leonteq Securities (CXRPTQ) recorded a turnover of over $980,000 through 27 trades. The top performer in the altcoin group is the Solana ETPs.

The report disclosed that the 21 Shares Solana Staking ETP (ASOL) saw a turnover of more than $10 million gathered through 218 trades within the market.

SIX Swiss Exchange listed 157 ETPs for different crypto assets. The platform’s net crypto-related products hold a more excellent significant value at 279. Generally, Bitcoin comprises the biggest share of the Swiss crypto ETP market. It features as an underlying asset for about 29 calls. 

Ethereum emerged in the second position as an underlying asset for 21 markets. The coin is serving as a product for 6 markets. Regarding revenue for all listed purchases, Bitcoin takes the lead with about 54.10% share.

Ethereum is the next top asset, representing 14.03%, while XRP comes in the fourth position, constituting 7.59% of the ETP revenue.



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