Borse Stuttgart’s Nordic Growth Market Sees ETPs Linked to XRP and Litecoin Go Live for EU Investors
Exchange-traded products (ETPs) continue to expand in Europe. The Borse Stuttgart exchange has a subsidiary known as Nordic Growth Market and that will be listing these ETPs. At the moment, there are four ETPs available for investors located in the European Union (EU). The information was released by XBT Provider, the company that has developed these products.
ETPs Expand Around the World
The company based in Stockholm, XBT Provider, has been working for several years in order to launch several investment products that are linked to the prices of virtual currencies. The firm started working in the industry since 2015.
The company was able to launch its Bitcoin-connected ETP on the Nasdaq Stockholm exchange in 2015. Later, the firm launched a similar product based on the price of Ether (ETH). This allowed investors to have exposure to virtual currencies without having to deal with them directly.
Ryan Radloff, the CEO of XBT Provider, commented about it:
“For traditional investors who are interested in trading, and already have accounts with brokers such as Avanza or Nordnet, but may not care to set up new accounts with new often unregulated, crypto exchanges, two new crypto assets are now available. This is another important step in the professionalization of the infrastructure around this asset class.”
Up until now, the firm was able to issue eight such products. In the future, new ones could also be released to the market.
Amun AG has also released different ETPs to investors in the last months and weeks. The firm has launched these products on the SIX Swiss Exchange in Switzerland.
In the United States, the cryptocurrency market is expecting to have a Bitcoin Exchange-Traded Fund (ETF). However, the U.S. Securities and Exchange Commission (SEC) has been against it. Most of the proposals have been rejected by the regulatory agency in the country. Experts believe that the first ETF in the U.S. could be approved as soon as in 2020.