As per the latest reports, ETC Group, a financial services firm based in London has made an announcement for its users as well as the investment community. ETC Group has announced that it is in the process of getting itself listed on the national stock market of Austria.
In the announcement, the firm has revealed that it is going to offer its portfolio of Litecoin (LTC), Ether (ETH), and Bitcoin (BTC) through Exchange Traded Products (ETPs).
The announcement made by ETC Group means that soon the investors would have access to three different Exchange Traded Products from the financial services firm. The firm has revealed that the users will have access to the LTC ETP, ETH ETP, and BTC ETP. ETC Group will have all of the ETPs enlisted through the national stock market of Austria.
The announcement in regards to ETC Group launching the ETPs through the stock market was made on Wednesday, August 18, 2021. In the announcement, it was confirmed that all three ETPs would be enlisted through the Vienna Stock Exchange, or locally known as Wiener Borse.
ETC Group has revealed that all three exchange-traded products it is going to enlist would be physically backed at a 100% rate. Furthermore, all the exchange-traded products would be cleared by the central counterparty.
The firm has clarified that it will be listing its Litecoin-based product, carbon-neutral Bitcoin product, and the Ether exchange-traded product.
ETC Group is already known to have launched several listings through stock exchanges belonging to several countries. At present, the countries where it has listed its ETPs include Germany, Switzerland, Netherlands, France, and the United Kingdom.
In Germany, ETC Group has enlisted ETP on Frankfurt Stock Exchange. In Switzerland, ETC Group has enlisted ETP on Zurich Stock Exchange. In the Netherlands, ETC Group has enlisted ETP on Amsterdam Stock Exchange. In France, ETC Group has enlisted ETP on Paris Stock Exchange. In the United Kingdom, ETC Group has enlisted ETP on London Stock Exchange. Now, the latest addition made by the ETC Group is through Austria’s Vienna Stock Exchange.
Through the exchange-traded products, the investors are not exposed to cryptocurrency assets that are unregulated and decentralized. This eventually makes the cryptocurrency assets full of risks and very unstable for investors to deal with.
Therefore, the exchange-traded products are introduced in order to fend off such uncertainties and risks. Through the ETPs, the investors are able to trade in a protected, risk-free, and regulated environment, while making profits through trades.
ETC Group has announced that it has acquired the service of Lang & Schwarz, which would act as the Market Maker for the company on the designated stock exchange.
