- In Sweden’s Nordic Growth Market (NGM) XRP and LTC-based ETNs have been trading since April 4.
- Up until now it was unclear whether they would attract investors.
Börse Stuttgart, Germany’s second biggest stock exchange and the 9th largest in Europe, has sanctioned two new ETNs (Exchange-traded Notes)- Litecoin (LTC) and XRP. According to a company press release, this is the first kind of announcement in Germany.
Börse Stuttgart has declared that like ETFs, ETNs are also strictly regulated, a transparent and protected instrument that can be used by an investor to invest in different assets or they can buy or sell ETNs based on the cryptocurrencies Litecoin and Ripple. The company XBT Provides ETN on the Swedish stock market and is supervising Litecoin and XRP ETNs. In Sweden’s Nordic Growth Market (NGM) XRP and LTC-based ETNs have been trading since April 4.
Like other exchange-traded products these cryptocurrencies Exchange-traded notes (ETNs) are available for trading from 8:00 to 22:00 CET.
This is a great announcement for Litecoin and XRP. Now that these two cryptocurrencies have generated a massive amount of interest in digital currencies and are available on a respected stock exchange, their liquidity is likely to significantly increase. Up until now it was unclear whether they would attract investors.
Already this year, Börse Stuttgart Group has launched a mobile app, Bison, for cryptocurrency trading with zero trading fees and a built in wallet for storing tokens. App users can trade from 6 a.m. to midnight CET (5:00 and 23:00 UTC) which will be increased in the future. The profit of this application will be from spread buying and the selling price offered. Bison is scheduled to expand in other European countries.