#CoinShares, #Europe's largest digital asset investment company, launched a new stock-traded product ( #ETP) today. This new product, the underlying asset of which is XRP , was named " #CoinShares #Physical #XRP" and was launched with the short name #XRPL. XRPL became CoinShares' eighth investment product.
↘️According to the company's statement, XRPL was created using CoinShares' enterprise-class ETP platform CoinShares Physical. Each XRPL unit is backed by 40 XRP and provides investors with investment exposure to XRP, the token of the Ripple network .
The XRPL is listed on the #Swiss #Exchange #SIX and can be traded for an annual fee of 1.50 percent.
"We are excited to bring XRP to our physically supported ETP platform," said Townsend Lansing, Product Manager for CoinShares. At CoinShares, we develop innovative products in response to the demands from our customers. " said.
There has been a positive news stream about XRP in the last days. The price increased accordingly. As good news came from the litigation process, some smaller exchanges have begun listing XRP again. The fourth largest cryptocurrency by market cap has risen to $ 1.88 today. XRP reached its historic peak in January 2018 at about $ 3.80