The first XRP and Litecoin exchange-traded products (ETPs) will be available to EU investors via Nordic Growth Market on Friday, April 5, according to an official statement.
The listing of both cryptocurrencies marks the first time investors in the EU have access to these digital assets through a regulated exchange.
Nordic Growth Market (NGM) is a Stockholm-based firm owned by Boerse Stuttgart, Germany’s second-largest exchange.
NGM’s deputy CEO Tommy Fransson said: “This is first and foremost a win for investors, especially those in Sweden who have demonstrated such strong support of prior crypto offerings. As an industry, it is important for us to listen, though with caution, to the requests of our investors and respond in kind.”
He added: “We are very excited to be part of making history here with the first ever LTC and XRP tracking products, and look forward to continuing to collaborate closely with XBT Provider on behalf of investors interested in new offerings.”
The idea behind ETPs is that investors can gain exposure to assets, in this case XRP and Litecoin, without having to purchase or store them.
The decision to list XRP and Litecoin by the Nordic Growth Market demonstrates a positive switch in opinion from institutions and legacy markets, with the former often labelling cryptocurrencies as a “fraud”.
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