In another mainstream move towards further adoption of cryptocurrencies, Germany’s Boerse Stuttgart stock exchange has launched exchange-traded-notes (ETNs) on Ripple (XRP) and litecoin (LTC).
Jurgen Dietrich, Boerse Stuttgart’s blue chips and funds trading director said: “There’s lots of interest in cryptocurrencies” which will allow “future price developments” to be tracked by investors in Germany for the first time.
Sweden’s Nordic Growth Market exchange (a wholly owned subsidiary of Boerse Stuttgart), has already been trading these notes since April. The Boerse Stuttgart securities will track XRP and LTC in relation to the Euro and Swedish krona.
This comes after Swiss stock exchange SIX Group also listed an XRP based exchange-traded-product, adding to their listing of BTC and ETH ETPs already listed, plus another tracking the top five cryptocurrencies in terms of market capitalization and liquidity.