Thursday, January 20, 2022

Vienna Stock Exchange will list crypto ETPs from ETC Group

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London-based monetary providers agency ETC Group will checklist its whole portfolio of crypto exchange-traded merchandise (ETPs) providing publicity to Bitcoin (BTC), Ether (ETH) and Litecoin (LTC) on Austria’s nationwide inventory market.

In a Wednesday announcement, the ETC Group said the Wiener Börse, or Vienna Inventory Change, could be itemizing three of its crypto exchange-traded merchandise which might be “100% bodily backed and central counterparty cleared.” These embrace the agency’s carbon-neutral Bitcoin product, a Litecoin-based product and its Ether ETP.

The ETC Group has already made similar listings on stock exchanges in London, Paris, Amsterdam, Zurich and Frankfurt. The ETPs are aimed 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 “via an ETP construction,” the agency mentioned its choices will not be the identical as an exchange-traded fund, as they’re single asset devices.

The Market Maker on the Vienna Inventory Change will probably 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 yr, exchange-traded funds in the US are nonetheless in a sort of regulatory purgatory because the Securities and Change Fee (SEC) has but to approve any functions. 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 an alternative opened the applying to public feedback.