German digital exchange Xetra lists physical Litecoin ETP

German digital exchange Xetra lists physical Litecoin ETP

Bitcoin and Ether ETPs have already been listed on Deutsche Börse’s Xetra.

German digital exchange Xetra lists physical Litecoin ETP

The London-based ETC Group, which is behind the listing of the first exchange-traded crypto product on the German digital exchange Xetra, wants to offer a new listing for Litecoin.

In an announcement, the ETC Group explained, she wanted to introduce her physical, exchange-traded cryptocurrency Litecoin under the ticker ELTC on April 14th on the German stock exchange Xetra. According to the company, the exchange-traded product will be the first Litecoin product (LTC) be on the stock exchange and has been approved by the Federal Financial Supervisory Authority (BaFin).

“The current economic uncertainty underscores the attractiveness of crypto assets for investors. They allow diversification from traditional assets such as stocks and bonds and offer strong inflation protection,” said Bradley Duke, CEO of ETC Group. “The traditional markets will remain volatile for some time. That is fueling the demand for alternatives such as cryptocurrencies.”

He added:

“In contrast to previous rallies in cryptocurrencies, the current one is being supported by both private and institutional investors for the first time. This is the ideal time for the introduction of ELTC.”

The ETC Group’s Litecoin ETP is the group’s third exchange-traded cryptocurrency last year. In June, the company listed a Bitcoin ETP on Xetra, followed by an Ether ETP last month. The company reported that its Ether ETP traded over $ 1 million on the stock exchange in its first week. The Bitcoin ETP is said to have grown to over $ 1 billion in assets under management.

An ETP is not quite the same as an exchange traded fund (ETF). When the ETC Group launched its Bitcoin ETP last year, it said it would “trade bitcoin through an ETP structure”. This does not match the definition of an ETF in the European Union as it is a single asset instrument.

Litecoin is the ninth largest cryptocurrency with a market capitalization of more than $ 20 billion. In addition to Bitcoin and Ether, it has also caught the attention of some investment firms. The ETC Group is the first company to offer a listing for a physical Litecoin ETP, but also CoinShares announced earlier this month to want to list his LTC-ETP on the SIX Swiss Exchange.

  • #Economy
  • #ETF
  • #Germany
  • #Digital asset management
  • #Litecoin price

Learn how to make extra income with Crypto Currency Secrets
Enter Your Email Address for your FREE Crypto Currency Secrets
I agree to have my personal information transfered to MailerLite ( more information )
We respect your privacy
Print Friendly, PDF & Email

Leave a Reply

Your email address will not be published. Required fields are marked *

Show Buttons
Hide Buttons