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London-based ETC Group announced Monday it will list a physical litecoin exchange-traded commodity (ETC) on Deutsche Boerse’s Xetra market, based in Frankfurt, on April 14.
- The new “ETC Group Physical Litecoin ETC” product will be a central counterparty cleared exchange-traded product (ETP) and will track the price of the litecoin cryptocurrency.
- The litecoin ETC goes live on Wednesday and will trade under the ticker “ELTC” and have a management fee of 2%. The product is marketed and distributed by HANetf.
- “Litecoin has grown by 342% in the past 12 months and is the ninth-largest cryptocurrency by market capitalization at $14.6 billion with growing interest from institutional and retail investors,” said Bradley Duke, CEO of ETC Group.
- Earlier this month, asset manager CoinShares launched a new physically backed litecoin ETP on the Swiss SIX exchange.
- In March, the ETC Group listed a Physical Ethereum ETC on Deutsche Boerse’s Xetra market which tracks the price of ether.
Read more: CoinShares Launches Litecoin ETP
