XBT Provider, a subsidiary of Coinshares, has launched a litecoin and ripple tracker ETP which will list tomorrow on the Boerse Stuttgart-owned Nordic Growth Market. The LTC and XRP Tracking ETPs will have an ongoing charge of 2.5%.
Earlier this week, Amun listed a ripple ETP in Switzerland, however, XBT’s launch is going to be the first regulated ripple and l;itecoin ETP listing in Europe, according to XBT Provider.
The two new cryptocurrencies will be joining XBT’s existing range comprised of bitcoin and ether tracker ETPs.
Investors can purchase the ETP certificate which synthetically tracks the performance of the underlying digital asset. The certificate is leveraged 1:1, meaning the value will match that of the underlying cryptocurrency minus fees.
Ryan Radloff, CEO of parent company Coinshares, commented: “For traditional investors who are interested in trading and already have accounts with brokers but may not care to setup new accounts with new, often unregulated, crypto exchanges, two new crypto assets are now available, this is another important step in the professionalisation of the infrastructure around this asset class.”
XBT Provider’s bitcoin and ether ETPs are currently listed on the Nasdaq Stockholm exchange, listing back in 2015 and 2017, respectively.