London-based monetary companies agency ETC Group will listing its total portfolio of crypto exchange-traded merchandise providing publicity to Bitcoin, Ether, and Litecoin on Austria’s nationwide inventory market.
In a Wednesday announcement, the ETC Group said the Wiener Börse, or Vienna Inventory Trade, can be itemizing three of its crypto exchange-traded merchandise, or ETPs, which can be “100% bodily backed and central counterparty cleared.” These embrace the agency’s carbon impartial Bitcoin (BTC) product, a Litecoin (LTC)-based product, and its Ether (ETH) ETP.
The ETC Group has already made similar listings on stock exchanges in London, Paris, Amsterdam, Zurich, and Frankfurt. The ETPs are geared toward permitting traders publicity to crypto with the regulatory protections afforded to conventional shares. Beforehand stating that its crypto product was like buying and selling Bitcoin “by way of an ETP construction,” the agency mentioned its choices are usually not the identical as an exchange-traded fund, as they’re single asset devices.
The Market Maker on the Vienna Inventory Trade might be Lang & Schwarz, with the crypto merchandise distributed by ETP supplier HANetf. Regardless of the title, the ETC Group has no connection to the cryptocurrency Ethereum Basic.
Associated: Popular Bitcoin ETP set to debut in UK
Whereas companies together with the ETC Group have been rolling crypto ETPs throughout Europe this 12 months, exchange-traded funds in the USA are nonetheless in a sort of regulatory purgatory because the Securities and Trade Fee has but to approve any purposes. VanEck, Valkyrie Digital Belongings, Constancy Investments, and others have submitted paperwork with the regulatory physique to use for crypto ETFs, however the SEC has always delayed its decision or as a substitute opened the appliance to public feedback.