The British company ETC Group has announced the listing of exchange traded products (ETP) on BTC, ETH and LTC on the Austrian national stock market.
The ETC Group specializes in the development of innovative digital asset backed securities and is backed by a number of major financial institutions in London. The ETC Group’s shareholders include firms such as XTX Ventures, the venture capital arm of XTX Markets that builds the electronic marketplace.
According to the press release, investors trading on regulated exchanges will be able to buy and sell ETC Group securities in the same way as when trading common stocks, with regulatory protection in place. Lang & Schwarz will be the market maker on the Vienna Stock Exchange, while HANetf will distribute the ETC Group’s securities.
ETC Group’s institutional grade cryptocurrency exchange products provide institutions and private investors with the ability to add major cryptocurrencies to their portfolios by seamlessly trading in regulated markets through their regular broker or bank. Bradley Duke, CEO of ETC Group, said:
“We are delighted to be listed in Austria and on such a respected stock exchange as the Wiener Börse. The ETC Group provides access to BTC, ETH and LTC through our 100% physical cryptocurrency ETPs. Moving our entire portfolio to the Vienna Stock Exchange launches innovative digital asset classes for institutional and retail investors on European and global exchanges. ”
As a reminder, ETC Group launched ETP on air in March due to high investor demand. ETC Group is not the only company in the EU developing and testing the capabilities of exchange-traded products in cryptocurrency. For example, Europe’s largest cryptoasset management firm CoinShares has announced the launch of the SIX ETP based on the XRP price on the Swiss Stock Exchange.
Swiss investment fund operator 21Shares announced in June that it was listing ETP for bitcoin on the Aquis Exchange in the UK. In addition, the brokerage division of UBS Group has launched a pilot project for clearing exchange-traded products in cryptocurrency.
