A new crypto ETN issued by ETC Group is tradable on Xetra and Börse Frankfurt since Friday
The XRPetc – ETC Group Physical XRP offers investors access to the performance of the cryptocurrency XRP, which is used as a digital means of payment in the Ripple network. Investors can trade the product flexibly using the same ISIN in the currency of their choice, either in euros or US dollars. The trading currency can be selected using an individually assigned stock exchange code. The exchange-traded note is physically backed by XRP. In addition, investors benefit from significantly reduced risks in the processing of transactions due to the central clearing.
ETC Group is thus expanding its range of crypto ETNs to fourteen products in the two trading currencies euro and US dollar, all of which are physically secured with the corresponding cryptocurrency and are cleared centrally via Eurex Clearing.
|Name||ISIN||Ongoing charges||Xetra Ticker for the|
|XRPetc – ETC Group Physical XRP||DE000A3GYNB0||1,95 per cent||GXRP||GXRQ|
The crypto ETN offering on Xetra now comprises 72 products from ten providers on a total of 20 individual cryptocurrencies and five crypto indices. 20 products can be traded in both euros and US dollars using the same ISIN. The trading currency can be selected in each case through an individually assigned exchange code.
With an average monthly order book turnover of around €1 billion, Deutsche Börse and Xetra are also the market leaders in the trading of crypto ETNs in Europe.