First ETPs Based On LTC And XRP Are Added To Swedish Exchange
The Swedish platform Nordic Growth Market has added its first crypto ETPs based on Litecoin and Ripple to the listing. So far, the exchange can offer only four investment products, two ETPs for each of the tokens, according to a press release.
EU investors will be able to purchase the crypto derivatives starting April 5, 2019. To do this, one can use brokerage accounts from Avanza and Nordnet, as well as other trading and even low-fee accounts. It is worth noting that the Nordic Growth Market belongs to the Stuttgart Stock Exchange, the second largest in Germany.
ETPs based on Litecoin and Ripple were launched by the specialists of XBT Provider, a subsidiary of CoinShares. This is a significant moment for investors and the entire crypto community since LTC and XRP received the ISIN identifiers, Ryan Radloff, CoinShares CEO, stated.
He emphasized that now traditional investors will be able to work with digital assets without having to address crypto exchanges, which are often not subject to regulation. Radloff considers this another step towards making the digital currency sphere more professional.
Interestingly, XBT Provider was the developer of Bitcoin Tracker One (BTO), the first bitcoin-based security, which was listed on the Nasdaq Stockholm in 2015.
Recently, Switzerland's top stock exchange SIX has added another ETP, based on Ripple. Today, the company offers four investment products pegged to the price of digital assets. They also include ETP based on bitcoin and ether, as well as a package of the top 5 most liquid cryptocurrencies.
As previously reported, the value of Litecoin increased by 100%.