Switzerland
Amun lists world’s first Ripple ETP
Winter has come for both Game of Thrones (April 17 – I can’t wait) and for cryptocurrencies. But ETF providers are rolling out new crypto ETPs nonetheless.
Amun, the world’s first company to list physically backed crypto ETPs, is now extending its crypto offering to include ripple.
The new product, called the Amun Ripple XRP ETP (AXRP) will be the first ripple tracker to trade on a major exchange. AXRP will track ripple by holding the underlying crypto assets in cold storage with an SEC-registered custodian.
Those who own the AXRP will have a legal claim over physical ripple, in a manner not too dissimilar from Swiss-listed gold ETPs.
The fund will charge 2.5%.
Russia
Russia money markets get upgraded
Russian ETF powerhouse FinEx is listing a new USD share class of its existing FinEx Cash Equivalents UCITS ETF (FXMM). The new share class, which will trade under the ticker FXTB, holds US T-Bills with maturities between 1 and 3 months. The difference between FXTB and FXMM is that the new FXTB has a RUB overlay (thus aiming to give RUB money market returns) whereas FXTB just holds the US T-Bills.
FXTB is aimed at Russian retail and institutions that hold USD and want a more secure and regulated investment vehicle – FXTB is a UCITS that hold AAA (Fitch and Moody’s) rated investments.