A new listing offer for Litecoin will be made by a London-based ETC group, which is the company that is responsible for listing first crypto-exchange trade product on Germany’s Xetra.
On April , there will be launching on Deutsche Börse Xetra, physical LiteCoin exchange traded crypto, which will be under the ticker name ELTC as revealed by ETC Group. Also, following approval by Germany’s Federal Financial Supervisory Authority, the exchange traded product will be the first LiteCoin (LTC) on the exchange.
“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,” said ETC Group CEO Bradley Duke. “Traditional markets will remain volatile for some time, fueling demand for alternatives such as cryptocurrencies.”
He added:
“In contrast to previous rallies in cryptocurrencies, the current one is the first to be supported by both retail and institutional investors, making this the ideal time to launch ELTC.”
The ETC Group’s Litecoin ETP represents the third exchange-traded crypto from the group in the last year. In June, the firm listed a Bitcoin ETP on Xetra, followed by an Ether ETP last month. The firm reported that its Ether ETP traded more than $1 million in its first week on the exchange, while the Bitcoin ETP reportedly has grown to more than $1 billion in assets under management.