Crypto Milestone: New XRP and Litecoin (LTC) Exchange-Traded Products Launching for EU Investors
A subsidiary of Boerse Stuttgart, the second largest stock exchange in Germany, has announced plans to launch XRP and Litecoin (LTC) exchange-traded products for investors in the European Union.
According to the announcement, Nordic Growth Market NGM AB (NGM), an authorized stock exchange, will list the offerings through Swedish-based issuer XBT Provider, which is owned by CoinShares. The listings mark the first time investors in the EU are given access to LTC through a traditional regulated exchange alongside other traditional investments such as equities and derivatives.
“At the end of this week XBT Provider will list exchange traded products with Litecoin and XRP as underlying assets at NGM. Litecoin will start trading as of April 4 and XRP as of April 5, 2019.”
An XRP exchange-traded product issued on the Swiss stock exchange SIX through Amun AG (AXRP) made its debut on Tuesday.
According to XBT Provider, each tracking certificate will be hedged 1:1 with the underlying assets, LTC and XRP.
The collaboration with NGM is XBT Provider’s second venue for cryptocurrency listings. The company launched Bitcoin and Ether tracking products on the Nasdaq Stockholm exchange in 2015 and 2017 respectively. These products currently comprise more than $374 million of invested assets.
Managing director of XBT Provider Laurent Kssis says,
“Swedish and European investors have access to two new crypto assets (in EUR and SEK), Litecoin and XRP, on a regulated exchange… We believe these trackers are the right vehicle for the financial markets to obtain exposure to crypto assets through trusted brokers.”
Join us on Telegram Follow us on Twitter
