German Stock Exchange Boerse Stuttgart Lists Crypto ETNs Based On Litecoin And XRP

Announcements, News | May 14, 2019 By:

Boerse Stuttgart, Germany’s second-largest stock exchange, has listed exchange-traded notes (ETN) based on Litecoin and Ripple’s XRP on its platform.

The LTC and XRP ETNs, which are issued by Swedish XBT Provider, can now be traded against the Swedish krona (SEK) and euro (EUR) on Boerse Stuttgart’s platform. The ETNs are available for trading on the exchange between 8:00 and 22:00 hours CET (07:00 and 21:00 hours UTC).

“There is a lot of interest in cryptocurrencies,” said Jürgen Dietrich, Director Blue Chips & Funds Trading at Boerse Stuttgart. “These ETNs will allow investors in Germany to track future price developments of the two cryptocurrencies Litecoin und Ripple (XRP) through exchange-traded securities for the first time.”

According to the exchange, The XRP and Litecoin ETNs have already been trading in Sweden at Boerse Stuttgart’s wholly owned subsidiary Nordic Growth Market exchange since last month.

In February of this year, Boerse Stuttgart rolled out its cryptocurrency trading app, Bison, which allows users to trade cryptocurrencies, such as bitcoin, ethereum, Litecoin and Ripple. In March, the exchange teamed with digital publishing giant Axel Springer SE and its subsidiary Finanzen.net to establish a blockchain and crypto-related joint venture.