Deutsche Börse expands crypto offering on Xetra with ETC Group’s Litecoin ETN
Deutsche Börse continues to expand its range of cryptocurrency products with the Exchange Traded Note (ETN) on Litecoin now available for trading via Xetra and Börse Frankfurt for the first time. The issuer of the product is ETC Group.
The LTCetc - ETC Group Physical Litecoin ETP now enables investors to participate in the performance of the cryptocurrency Litecoin on Xetra without having to set up crypto wallets. The ETN, which is physically backed by Litecoin, has been admitted to the Regulated Market of the Frankfurt Stock Exchange and is centrally cleared via Eurex Clearing. This allows investors to benefit from significantly reduced risks in the settlement of exchange transactions.
In June last year, Deutsche Börse became the first exchange worldwide to launch trading in centrally cleared crypto products. Investors can now choose from ten ETNs from four providers on Bitcoin, Bitcoin Cash, Ethereum and Litecoin. As a result, investors no longer have to turn to unregulated trading venues for investments in cryptocurrencies. With an average monthly order book turnover of around one billion euros, Deutsche Börse’s Xetra market is the European market leader in crypto ETN trading.
The product offering in Deutsche Börse's ETF & ETP segment currently comprises a total of 1,659 ETFs and 205 ETCs and ETNs. With this selection and an average monthly trading volume of around EUR6.5 billion, Xetra is the leading trading venue for ETFs and ETPs in Europe.