Skip to content
Pico y Pala – Bitcoins, Ethereum, Ripple,…

German digital inventory alternate will checklist bodily Litecoin ETP



The group already has Bitcoin and Ether ETPs listed on the Deutsche Börse Xetra.

London-based ETC Group, the agency accountable for itemizing the primary crypto exchange-traded product on Germany’s Xetra digital inventory alternate, will provide a brand new itemizing for Litecoin.

In an announcement at present, the ETC Group stated its bodily Litecoin exchanged-traded crypto, underneath the ticker ELTC, will likely be launching on Deutsche Börse Xetra on April 14. In accordance with the agency, the exchange-traded product, or ETP, would be the first Litecoin (LTC) product on the alternate following approval from Germany’s Federal Monetary Supervisory Authority, or BaFin.

“The present financial uncertainty has underlined the attraction of crypto belongings for traders as they provide alternatives for diversification from conventional belongings akin to equities and bonds, and powerful hedging qualities in opposition to inflation,” stated ETC Group CEO Bradley Duke. “Conventional markets will stay unstable for a while, fueling demand for options akin to cryptocurrencies.”

He added:

“In distinction to earlier rallies in cryptocurrencies, the present one is the primary to be supported by each retail and institutional traders, making this the best time to launch ELTC.”

The ETC Group’s Litecoin ETP represents the third exchange-traded crypto from the group within the final 12 months. In June, the agency listed a Bitcoin ETP on Xetra, adopted by an Ether ETP final month. The agency reported that its Ether ETP traded greater than $1 million in its first week on the alternate, whereas the Bitcoin ETP reportedly has grown to greater than $1 billion in belongings underneath administration.

An ETP is just not fairly the identical as an exchange-traded fund, or ETF. When the ETC Group launched its Bitcoin ETP final 12 months, it stated it was “buying and selling Bitcoin via an ETP construction,” which seemingly doesn’t meet the definition of an ETF within the European Union, because it’s a single asset instrument.

Because the ninth largest cryptocurrency with a market capitalization of greater than $20 billion, Litecoin has attracted the eye of some funding companies together with Bitcoin and Ether. Although the ETC Group will reportedly be the primary to supply a list for a bodily Litecoin ETP, CoinShares introduced earlier this month it will be itemizing its LTC ETP on the SIX Swiss Trade.

The publish German digital inventory alternate will checklist bodily Litecoin ETP appeared first on BTC Ethereum Crypto Forex Weblog.