New products tied the crypto market are set to begin trading on a European exchange, as per an announcement by XBT Provider.
The CoinShare-owned company said on Thursday that shares of the new exchange-traded products tied to litecoin and XRP will start trading on Nordic Growth Market, a Boerse Stuggart subsidiary, on April 5. The new funds join others on the market tied to the spine-tingling volatile digital asset market, such as Amun AG's basket ETF that offers exposure to bitcoin, bitcoin cash, ethereum, XRP and litecoin.
As for the XBT Provider funds, they will be available to investors in the European Union. The new products join XBT Provider's bitcoin ETP, which trades on Nasdaq Stockholm.
“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” said Ryan Radloff, CEO of CoinShares.
The new financial products come to market as bitcoin makes a big price comeback after more than a year in the doldrums. At last check the largest digital currency by market cap was trading up 31.9% over the last month as per Messari.
A proper exchange-traded fund in the U.S. has been a long-awaited darling of the crypto market, as observers expect it could unlock a wave of retail capital sitting on the sidelines. At the end of March, the U.S. Securities and Exchange Commission pushed back the date it would make a decision on two bitcoin exchange-traded funds sitting in regulatory limbo, as reported by CoinDesk.