Germany’s Second Largest Stock Exchange Launches Ripple (XRP) and Litecoin (LTC) Exchange Traded Notes
Börse Stuttgart, Germany’s second largest stock exchange and the ninth largest in Europe, has listed Ripple (XRP) and Litecoin (LTC) exchange-traded notes (ETNs) on its platform.
ETNs track an index of securities. Their prices fluctuate like stocks. In the case of Börse Stuttgart’s cryptocurrency ETNs, price is influenced by the change in value of XRP and Litecoin. Swedish issuer XBT, owned by CoinShares, is offering four securities that track the price of the two cryptocurrencies in relation to the euro and the Swedish krona.
The listing of the ETNs marks the first time investors in Germany can invest in cryptocurrencies on Börse Stuttgart.
Jürgen Dietrich, head of trading with blue chips and funds at Börse Stuttgart, says,
“Interest in cryptocurrencies is still high. With the ETNs, investors in Germany can now for the first time through exchange-traded securities share in the performance of the major cryptocurrencies Litecoin and Ripple (XRP).”
Investors in Sweden were able to invest in the securities since the beginning of April through a subsidiary of Börse Stuttgart. According to the official announcement,
“The crypto-ETNs listed on the stock exchange Stuttgart, like all exchange-traded products, are being continuously traded from 8 am to 10 pm. Since the beginning of April, the securities have been tradable in Sweden on the NGM stock exchange, a subsidiary of the Stuttgart Stock Exchange.”
Prior to its ETN release, Börse Stuttgart offered cryptocurrencies through its mobile app Bison made in collaboration with Berlin-based fintech company solarisBank.
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