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Boerse Stuggart lists exchange-traded notes on Litecoin and XRP

Tue, 14 May 2019, 05:27 am UTC

Boerse Stuggart, the second largest stock exchange in Germany, has announced the launch of exchange-traded notes (ETNs) on Litecoin (LTC) and Ripple (XRP) on its platform.

Investors in Germany would now be able to buy and sell ETNs based on LTC and XRP and participate in the future price development of these cryptocurrencies. The products have already been tradable in Sweden at the NGM exchange, a subsidiary of Boerse Stuttgart, since April.

The crypto ETNs can be traded at Boerse Stuttgart between 8:00 and 22:00 hours CET.

According to the announcement, the four securities issued by XBT Provider in Sweden track the price of the two cryptocurrencies in relation to the euro and the Swedish krona.

“There is a lot of interest in cryptocurrencies. These ETNs will allow investors in Germany to track future price developments of the two cryptocurrencies Litecoin und Ripple (XRP) through exchange-traded securities for the first time,” Jürgen Dietrich, Director Blue Chips & Funds Trading at Boerse Stuttgart, said.

Boerse Stuttgart first announced its plans to create the end-to-end infrastructure for digital assets back in August 2018. In December, it partnered with fintech company solarisBank to develop crypto trading venue.

Earlier this year, it launched cryptocurrency trading app BISON, which allows users to trade in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). In March, it announced a joint venture for digital asset trading with Axel Springer SE, the largest digital publishing house in Europe, and portal.

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