Germany’s Second-Top Exchange Börse Stuttgart Lists Ripple and Litecoin-Based ETNs
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Germany’s Second-Top Exchange Börse Stuttgart Lists Ripple and Litecoin-Based ETNs

May 13, 2019      Cryptoknowmics


Börse Stuttgart (SWB), the second-largest stock exchange in Germany, has listed two crypto exchange-traded notes (ETNs), according to a press release shared with Cointelegraph on May 13.

Based on two major cryptocurrencies, XRP and litecoin (LTC), and issued through XBT Provider, the ETNs can now be traded against the Swedish krona (SEK) and euro (EUR) on Börse Stuttgart, Europe’s tenth-largest exchange, the announcement says.

The SWB’s crypto ETNs listing purportedly allows investors to track the future price developments of XRP and LTC through exchange-traded securities, which is the first initiative of its kind in Germany, Boerse Stuttgart executive Jürgen Dietrich explained in the press release.

Similarly to other exchange-traded products, crypto ETNs are reportedly available for trading on the exchange from 8:00 to 22:00 Central European Time (CET).

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XRP and LTC-based ETNs have already been trading in Sweden at Boerse Stuttgart-owned exchange Nordic Growth Market (NGM) since April 4.

Earlier this year, Boerse Stuttgart officially launched its crypto-trading application, Bison.

Recently, the world’s second-largest stock exchange Nasdaq was rumored to test trading of a bitcoin (BTC)-based product. Previously, the exchange confirmed its plans to launch bitcoin futures in the first half of 2019.

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Author: Helen Partz

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