Germany stock exchange approves listings of LTC and XRP ETNs
Börse Stuttgart, the second biggest stock exchange in Germany and the ninth largest in Europe, has approved the listing of LTC and XRP exchange-traded notes (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 Börse Stuttgart team said.
ETNs operate in a similar way to ETFs as strictly regulated, transparent and protected instruments that can be used by investors to invest in various assets.
Launching cryptocurrency-backed ETNs on Börse Stuttgart is expected to increase the liquidity of Litecoin and XRP, especially amongst accredited investors and potentially institutions.
Will this fuel the momentum for XRP and LTC?
CCN wonders whether the news will fuel the momentum of Litecoin and XRP.
Litecoin has been surging a lot, and the boost has been attributed to the privacy-related solutions which have become a target of the open-source LTC community.
Litecoin’s Charlie Lee had this to say back in January:
“Fungibility is the only property of sound money that is missing from Bitcoin & Litecoin. Now that the scaling debate is behind us, the next battleground will be on fungibility and privacy. I am now focused on making Litecoin more fungible by adding Confidential Transactions.”
Lee continued and said, “We are now also exploring doing bulletproof MimbleWimble w/ extension blocks.”