ETC Group unveils regulated vehicle to invest in Ripple’s XRP
Digital asset manager ETC Group has introduced its newest exchange-traded product (ETP), this time with the launch of XRPetc – ETC Group physical XRP under the primary ticker GXRP.
The ETC (exchange traded commodity/cryptocurrency) is now available to investors across 16 EU countries through a listing on Deutsche Börse XETRA, Europe’s largest ETF trading venue. XRPetc aims to physically replicate the performance of ripple (XRP) with each unit of the ETF backed by actual coins, providing pure exposure to the underlying digital asset.
The new vehicle aims to be a low-cost product providing regulated access to XRP token, whilst benefiting from the high quality, institutional grade security and custody, and 100% physically backed features that match ETC Group’s other ETC securities.
The company says it has been produced in response to strong demand from institutional investors to gain exposure to the performance of Ripple’s native currency. The world’s sixth-biggest cryptocurrency by market capitalization has been gaining momentum alongside other cryptocurrencies even as it continues to run into controversy with the SEC, which alleges it was a security and not a currency.
Bradley Duke, Founder and co-CEO at ETC Group said: “Ripple is rapidly becoming a leader in global payment systems with hundreds of financial institutions choosing Ripple to provide a better international payments experience for their customers, in real-time. By launching this latest ETC to our expanding portfolio of high quality, physically backed digital assets, we’re continuing to grow our offering to investors, providing access to an increasingly wide range of digital currencies and assets – especially those amassing large market caps. The market leading success of our products has been driven by our partnerships with world-class liquidity providers to deliver high liquidity and tight trading spreads.”
ETC Group expanded its roster of crypto ETPs
Hector McNeil, co-Founder and co-CEO at HANetf: “We are delighted to partner with ETC Group again to offer a new ETC backed by XRP. ETC Group, in partnership with HANetf, has established itself as a market leader in offering investment products focused on crypto assets. Interest in exchange traded cryptocurrencies has been booming, providing investors with a safer and more liquid way to gain exposure to digital assets. Ripple is a growing blockchain-based digital payment network that is gaining traction thanks to its rapid speed and reliability.”
ETC Group has recently expanded its roster of cryptocurrency exchange-traded products (ETPs) with 11 cryptocurrency digital asset exposures. Its catalogue of crypto ETCs include Bitcoin, Ethereum, Solana, Cardano, Polkadot, Litecoin, Avalanche, Cosmos, Polygon and Uniswap.
Physically-backed, the XETRA listing brings XRP ETC within particularly easy reach of investors in Germany, which now boasts some of the most crypto friendly tax laws in mainland Europe. Trading XRP through an ETP structure removes the technical challenges associated with cryptocurrency such as setting up a wallet or trading or unregulated exchanges.