Altcoin News: The Second Largest Stock Exchange in Germany Has Approved ETN Listing for LTC and XRP

May 13, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Börse Stuttgart, the second largest stock exchange in Germany and the ninth in Europe, allowed the listing of exchange-traded notes (ETN) linked to Litecoin and XRP cryptocurrencies.

“Interest in cryptocurrencies is still high. ETNs allow investors in Germany to participate in the performance of the major cryptocurrencies Litecoin and Ripple (XRP) through exchange-traded securities,” says Jürgen Dietrich, Head of Trading with Blue Chips and Funds at the Stuttgart Stock Exchange.

A total of four securities issued by XBT Provider in Sweden and tied to two cryptocurrency rates in pairs with the euro and the Swedish krona, respectively, were approved for listing on the trading platform.

Crypto ETN, like any other exchange instruments, will be traded during business hours from 08:00 to 22:00 local time. ETN is an unsecured debt obligation pegged to the price of certain assets, in this case, cryptocurrencies, and is used by customers of traditional exchanges to invest in them.

Since April, similar products have been available to customers of the Swedish NGM exchange, a division of Börse Stuttgart.

About plans to launch its own crypto-trading platform Börse Stuttgart announced at the end of last year.

Author: Marko Vidrih