London-based ETC Group, the company in charge of listing the 1st digital asset exchange-traded product on Germany’s Xetra digital stock exchange, will roll out a new listing for Litecoin.
In a recent announcement, the ETC Group mentioned its physical Litecoin exchange-traded digital currency, with the ticker ELTC, will be launching on Deutsche Börse Xetra on 14th April. As per the company, the ETP will be the 1st Litecoin product on the exchange, following consent from Germany’s Federal Financial Supervisory Authority.
Bradley Duke, the CEO of ETC Group mentioned,
“The current economic uncertainty has underlined the attraction of crypto assets for investors as they offer opportunities for diversification from traditional assets such as equities and bonds, and strong hedging qualities against inflation. Traditional markets will remain volatile for some time, fueling demand for alternatives such as cryptocurrencies.”
He further added,
“In contrast to previous rallies in cryptocurrencies, the current one is the first to be supported by both retail and institutional investors, making this the ideal time to launch ELTC.”
Notably, the ETC Group’s Litecoin ETP signifies the 3rd exchange-traded virtual currency ETP from the group in the last year. Last year, in the month of June last year, the company listed a Bitcoin ETP on Xetra, followed by an Ethereum ETP last month.
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