The sixth-largest stock exchange in the world has officially begun trading Bitcoin (BTC) and Ethereum (ETH) exchange-traded notes (ETNs). According to the London Stock Exchange (LSE), today marks the launch of ETH and BTC ETN trading. “We are pleased to announce the launch of Crypto ETNs on the London Stock Exchange, effective 28 May 2024, […]
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The wealth manager Vaneck has announced it has expanded its exchange-traded note (ETN) offerings to support the tokens polygon and avalanche. The two ETNs follow five previously launched funds in Europe that allow investors to gain exposure to leading digital assets. Vaneck Adds Polygon and Avalanche to Its List of Cryptocurrency ETNs Vaneck has announced […]
Three new crypto ETNs are now live on Deutsche Boerse, following previous ETN listings on BTC, ETH, BCH and LTC.
German stock market operator Deutsche Boerse continues diving into the cryptocurrency derivatives by listing three new crypto exchange-traded notes (ETNs) by VanEck.
Deutsche Boerse officially announced on Sept. 21 that VanEck’s new ETNs on Polkadot (DOT), Solana (SOL) and Tron (TRX) are now tradable on its digital stock exchange Xetra and the Frankfurt Stock Exchange.
The new listings expand Deutsche Boerse’s crypto ETN offerings as the company previously started offering similar products on cryptocurrencies like Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC), the firm noted.
“All crypto ETNs tradable on Xetra are physically collateralized and listed on the Regulated Market of the Frankfurt Stock Exchange,” the announcement reads.
According to Deutsche Boerse, investors can purchase crypto ETNs similar to shares or exchange-traded funds (ETFs) without needing to set up crypto wallets. “Through central clearing, institutional investors also benefit from significantly reduced risks in settlement of transactions,” the firm added.
Related: Deutsche Boerse-owned Eurex debuts Bitcoin futures trading
VanEck noted in its own announcement that the new products follow previous launches of exchange-traded products on Bitcoin and Ether. “Further ETNs are now following in order to open up the future market of cryptocurrencies for European investors. With this step, the accomplished ETF provider further expands its pioneering role for innovative and future-oriented investment solutions,” the firm wrote.
The news comes amid Deutsche Boerse actively expanding the range of supported crypto derivatives products across its operated exchanges. On Sept. 13, Deutsche Boerse’s derivatives exchange Eurex debuted crypto derivatives trading with ETC Group’s Bitcoin (BTC) ETN futures product. Earlier this year, Xetra debuted trading of Ether-based ETPs by ETC Group.
Deutsche Boerse-operated exchanges such as Eurex and Xetra continue moving into the crypto derivatives market.
Eurex, a derivatives exchange owned by German stock market operator Deutsche Boerse, has debuted cryptocurrency derivatives trading with ETC Group’s Bitcoin (BTC) exchange-traded note (ETN) futures product.
Eurex officially announced Monday the launch of the Bitcoin ETN Futures contract developed by London-based crypto derivatives issuer ETC Group.
“As the first step in our portfolio of crypto derivatives, the offering is the first regulated market in Bitcoin-related derivatives in Europe,” Eurex said.
Trusted path to #crypto: today, we launched #Bitcoin ETN #Futures. As the first step in our portfolio of #CryptoDerivatives, the offering is the first regulated market in Bitcoin-related #derivatives in Europe. Get all information and the factsheet here: https://t.co/bk55yqFssN pic.twitter.com/ADpzOCqTnm
— Eurex (@EurexGroup) September 13, 2021
The euro-denominated Bitcoin ETN Futures contract is based on ETC Group’s flagship product, centrally cleared Bitcoin exchange-traded product (ETP), known as BTCetc Physical Bitcoin (BTCE). The futures contract allows investors to track the price development of Bitcoin in a regulated environment and will be physically delivered in BTCE, which is 100% backed by Bitcoin and can be instantly converted by any investor into the underlying BTC.
ETC Group CEO Bradley Duke noted that the latest listing marks another major milestone in providing institutions with financial products that enable exposure to crypto on regulated exchanges. “The selection of BTCE by Eurex, Europe’s largest derivatives exchange, further establishes ETC Group’s leadership in the crypto ETPs and is recognition of the quality of our products and their world-beating liquidity,” he noted.
Related: Swiss Exchange SIX granted approval to launch crypto marketplace
The Bitcoin ETN Futures’ listing on Eurex comes more than a year after ETC Group listed its BTCE ETP product on Xetra, a major digital stock exchange operated by Deutsche Boerse. The ETP is now listed on multiple European exchanges, including the SIX Swiss Exchange. In July, ETC Group announced that BTCE was going carbon neutral by offsetting the carbon footprint through hand-selected carbon credits to compensate for carbon emissions associated with BTCE Bitcoin mining.
