Announced on Thursday, new Exchange-traded products are tied with XRP cryptocurrency have gone live on the European exchange. As such, these products are now available for European investors, XBT provider confirmed.
A CoinShare Company, XBT provider is a Swedish issuer of Bitcoin and Ether Exchange Traded Products (ETP) which has announced that XRP and Litecoin ETPs are live for investors in European Union from April 05, 2019. These ETPs are made available via Nordic Growth Market (NGM) which is a subsidiary of the Boerse Stuttgart exchange. Per the reports, there were four ETPs (two for XRP and two for Litecoin) .
With ETPs for XRP Crypto, EU investors will now be able to explore cryptocurrencies but not as a direct purchase. Nevertheless, traditional investors are often reluctant to involve in crypto market because it is not as regulated as the stock market– thus tying cryptocurrency such as XRP with ETP will assist them to walk around more avenues of investment.
Concerning the similar announcement, Ryan Radloff, the CEO of XBT provider says that;
“This is another important step in the professionalization of the infrastructure around this asset class.” Said Ryan Radloff, “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,”
The platform is already offering BTC and ETH backed ETPs – consequently, it offers tracking certificate to represent the prices of newly launched XRP and LTC Exchange Traded Products (ETPs). Concerning the similar announcement, Tommy Fransson, NGM Deputy CEO says that;
This is first and foremost a win for investors, especially those in Sweden who have demonstrated such strong support of prior crypto offerings. Says Tommy Franson. We are very excited to be part of making history here with the first ever LTC and XRP tracking products; and look forward to continuing to collaborate closely with XBT Provider on behalf of investors interested in new offerings”