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BREAKING NEWS: Germans 2nd Largest Stock Exchange Enables Crypto!

Börse #Stuttgart, the second biggest #stock #exchange in #Germany and the ninth largest in Europe, has approved the listing of #litecoin 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 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.

Similar to exchange-traded #funds (ETFs), ETNs operate as strictly regulated, transparent, and protected #instruments that can be used by #investors to invest in various #assets.

The launch of #cryptocurrency-backed #ETNs on Börse Stuttgart is expected to increase the #liquidity of litecoin and XRP, especially amongst accredited #investors and potentially #institutions.

RAISING THE QUALITY OF LIQUIDITY

#Cryptocurrency#exchanges may be compelling for many individual users due to their #liquidity and #ease of #access. But, for some, the lack of investor #protection #remains a #roadblock.

In late 2017, at the #Vanity Fair New #Establishment #Summit in #LosAngeles, billionaire investor Mark #Cuban told Bloomberg that he invested in bitcoin through an ETN on a Swedish stock exchange.

Cuban said:

It is interesting because there are a lot of assets which their value is just based on supply and demand. Most stocks, there is no intrinsic value because you have no true ownership rights and no voting rights. You just have the ability to buy and sell those stocks. Bitcoin is the same thing. Its value is based on supply demand. I have bought some through an ETN based on a Swedish exchange.

The same #company behind the bitcoin #ETN on the Swedish stock market is overseeing #litecoin and #XRP ETNs on Börse Stuttgart, which would provide accredited #investors with an alternative platform other than #cryptocurrency #exchanges to invest in major crypto assets.

Jürgen #Dietrich, Director Blue Chips & Funds Trading at #Boerse Stuttgart, said:

There is a lot of interest in cryptocurrencies. These [litecoin and XRP] ETNs will allow investors in Germany to track future price developments of the two cryptocurrencies Litecoin und Ripple (XRP) through exchange-traded securities for the first time.

WOULD THIS FURTHER #FUEL THE #MOMENTUM OF LITECOIN AND XRP?

Year-to-date, the price of #litecoin has surged by more than 183 percent against the U.S. dollar. The strong #performance of the #cryptocurrency has been mainly attributed to the focus of the open-source developer #community of #litecoin on privacy-related solutions.

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