London-headquartered crypto money manager CoinShares has announced the launch of a new XRP exchange-fund product (ETP).
It will trade on Zurich-based SIX Swiss, the third-largest stock exchange in the world with a total market cap of over $1.6 trillion, under the XRPL ticker.
Each unit represents 40 XRP tokens that are currently worth around $68. The base fee of the XRP ETP is set at 1.5 percent per annum.
This April, CoinShares, the largest European asset manager, also launched a similar product for Litecoin.
Earlier this year, the company also introduced ETPs backed by Bitcoin and Ethereum.
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