Nordic Growth Market, a subsidiary of the Borse Stuttgart exchange has taken ETPs tied to XRP and LTC live, according to Coindesk.
The ETPs are only available to investors in the European Union, says XBT Provider, which provides the products. In this case there are two for XRP and two for LTC, making four in total for investors to explore.
The Stockholm-based firm has launched a range of investment products since 2015, all of them involving cryptocurrencies. Its first launch was a BTC-connected ETP that went live on the Nasdaq in Stockholm back in 2015 and was followed by a similar product tied to ETH.
The idea behind the ETP products is to provide investors with an avenue for gaining exposure to cryptocurrencies but without actually purchasing them directly.
Ryan Radloff, the CEO of XBT Provider parent company CoinShares, said in a statement: “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. This is another important step in the professionalization of the infrastructure around this asset class.”
XRP was at the heart of another ETP launched this week by Amun AG on the Swiss SIX exchange, the country’s main stock exchange.