ETC Group has announced that it will list its Physical Litecoin ETC on Deutsche Börse’s XETRA platform on Wednesday 14 April 2021.
The exchange traded cryptocurrency is structured as an asset-backed debt security issued in Germany, and is marketed and distributed by HANetf.
ETC Group´s Physical Litecoin ETC will track the price of Litecoin providing investors with an institutional grade product gain exposure to the Litecoin cryptocurrency. ELTC is the first Litecoin product to be listed on Xetra and will be central counterparty cleared.
It’s the third crypto ETC from ETP Group – earlier this month it listed ETC Group Physical Ethereum ETC which tracks the price of Ether and was the first Ethereum ETP to be listed on the Deutsche Borse. ZETH traded over $1million in its first week of launch and had spreads of just 23 basis points.
This growing range of crypto ETCs provides investors with several benefits over investing directly in the cryptocurrencies they track. Traded on regulated markets, investors can buy and sell the ETCs in the same way they would when trading conventional shares, with the identical regulatory protections in place. ELTC will be central counterparty cleared (CCP).
Bradley Duke, CEO of ETC Group said: “Litecoin has grown by 342 percent in the past 12 months and is the nineth largest cryptocurrency by market capitalisation at $14.6 billion with growing interest from institutional and retail investors. It’s often talked about as the silver to Bitcoin’s gold.
“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. But it is a crowded market with more than 8,700 cryptocurrencies, making it difficult for investors to select assets and to store and manage them.