EU Investors Eye Exchange Traded Products. The Nordic Growth Market, a subsidiary of the Borse Stuttgart exchange started a new initiative. Exchange-traded products (ETPs) tied to the price of the cryptocurrencies ripple (XRP) and litecoin (LTC) have gone live on the exchange.
According to XBT Provider, the firm behind the ETP’s four ETPs (two for XRP, two for Litecoin) are now available to investors in the European Union.
A series of investment products tied to the prices of cryptocurrencies launched by XBT Provider since 2015. XBT Provider is based in Stockholm. Its bitcoin-connected ETP went live on the Nasdaq Stockholm exchange in 2015. A similar product tied to the price of ether was later debuted by the company. Ether is the native cryptocurrency of the ethereum network.
EU Investors Eye Exchange Traded Products. ETPs are a means for investors to gain exposure to cryptocurrencies without having to actually purchase them directly.
The CEO of XBT Provider parent company CoinShares, Ryan Radloff, said in a statement:
“For traditional investors who are interested in trading, and already have accounts with brokers such as Avanza or Nordnet, but may not care to set up new accounts with new, often unregulated, crypto exchanges, two new crypto assets are now available. This is another important step in the professionalization of the infrastructure around this asset class.”
XBT Provider has issued eight such products to date.
ETPs tied to XRP went live in Apil. On April 2, an ETP developed by Amun AG become available to investors on SIX, Switzerland’s primary stock exchange.