As Crypto Rebounds, XBT Provider Launches XRP And Litecoin Derivatives

With cryptocurrency markets appearing to slowly be regaining some of their former vitality, it makes sense that Sweden-based XBT Provider—which has already listed exchange traded products (ETPs) tracking Bitcoin and Ether in Europe—just launched two more ETPs on the Nordic Growth Market, a subsidiary of the Boerse Stuttgart. The derivatives, one tracking XRP (formerly ), the other , began trading on April 5.

Earlier this year Switzerland-based Amun , the Amun Crypto Basket Index (SIX:).

To date, all told, XBT Provider has issued eight such products, all available via European exchanges. Has demand been robust for these derivatives?

That depends on your metrics. The first four ETP launches offered exposure to (BTC) and (ETH) the most popular and second most popular cryptocurrencies respectively, by market cap. Demand for these products—Bitcoin Tracker One (ST:), Bitcoin Tracker EUR (ST:), Ether Tracker One (ST:) and Ether Tracker Euro (ST:)—has been stable.

According to XTP Provider stats, between March 1, 2018 to March 31, 2019 the volume on the BTC products was at €833.6 million ($942.93 million), while the volume on the ETH products was at €567.5 million ($641.93 million). Laurent Kssis, managing director of XBT Provider by CoinShares, commenting on the numbers, says demand for the BTC and ETH tracking ETPs has been “healthy” over the last year, given investors have been trading a combined $1.5 billion worth of the Ether and Bitcoin ETPs on NASDAQ Stockholm.

During this same period the group saw over $90 million invested in the ETPs, about 60% of that invested in the ETH tracking products, 40% BTC. Says Kssis:

“The support we have seen from investors in Europe and especially the Nordics, even in the face of a bearish crypto-asset market in 2018, leads us to believe we will continue to see healthy volume in both our ether and bitcoin ETPs as well as in the new XRP and Litecoin ETPs.”

ETPs Not a Barometer for Overall Demand


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