Well, today is day 1 of Consensus 2019 and we are getting amazing news this morning! Let’s start off with the news we got from CCN in regards to Germanys number 2 Stock Exchange allowing investors to buy Litecoin and XRP! This is massive news!
So why is this so big? Börse Stuttgart (SWB) is a stock exchange in Germany, the second largest in the country and the ninth largest in Europe. Borse Stuttgart has approved the listings of litecoin and XRP exchange-traded notes otherwise known as ETNs.
For the first time in Germany, investors can now buy and sell exchange-traded notes (ETNs) based on the cryptocurrencies Litecoin and Ripple (XRP). The four securities issued by XBT Provider in Sweden track the price of the two cryptocurrencies in relation to the euro and the Swedish krona,” the Börse Stuttgart team said.
ETNs operate as strictly regulated, transparent and protected instruments that can be used by investors to invest in various assets. ETNs are very similar to exchange-traded funds otherwise known as ETFs. This launch of XRP is going to increase liquidity.
Borse Stuttgart announced early this morning that Sweeden based firm XBT is issuing 4 securities that will help track the price of XRP and LTC in relation to the Swedish krona and the euro. All four are available for buying and selling on the exchange immediately.
There is a lot of interest in cryptocurrencies,” Boerse Stuttgart’s director for blue chips & funds trading, Jürgen Dietrich, said. Such ETNs will allow investors in Germany to track “future price developments” of the two cryptocurrencies “for the first time”.
Earlier this year, Switzerland-based stock exchange SIX Group also listed an XRP-based exchange-traded product (ETP). SIX now has a total of four cryptocurrencies ETPs listed, with XRP, bitcoin (BTC) and ether (ETH) products, as well as another that tracks the top-five cryptocurrencies in terms of market capitalization and liquidity.