Banking Investment News

Boerse Stuttgart launches cryptocurrency exchange traded notes

trading

Today the Boerse Stuttgart announced that investors can buy and sell exchange-traded notes (ETNs) based on the Litecoin and Ripple (XRP) cryptocurrencies. The securities are issued by Swedish XBT to track the cryptocurrencies in euro and Swedish krona.

“There is a lot of interest in cryptocurrencies. 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,” said Jürgen Dietrich, Director Blue Chips & Funds Trading at Boerse Stuttgart.

Since April the same products have been available on the Swedish NGM exchange, a Boerse Stuttgart subsidiary.

Two weeks ago Fidelity published a survey of institutional investors which found that 72% prefer to buy investment products that hold digital assets. The questionnaire allowed multiple responses, but this was the most popular. 57% like to invest directly in cryptocurrencies and another 57% are attracted to buying investment products that have shares in digital asset companies.

Two months ago, Boerse Stuttgart unveiled a joint venture with Axel Springer and finanzen.net to create a digital asset platform. The aim is to provide both information and trading opportunities in one destination. The project is subject to regulatory approval.