Deutsche Börse, the German stock market operator, has listed three new crypto exchange-traded notes (ETN) by VanEck.
It has been reported that VanEck’s new ETNs on Polkadot’s DOT, Solana (SOL), and Tron (TRX) are now tradable on its digital stock exchange, Xetra, and the Frankfurt Stock Exchange.
However, the new listings expand Deutsche Börse’s crypto ETN offerings as the company previously started offering similar products on cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC).
The announcement read:
“All crypto ETNs tradable on Xetra are physically collateralized and listed on the Regulated Market of the Frankfurt Stock Exchange.”
The report said that according to Deutsche Börse, investors can purchase crypto ETNs similar to shares or exchange-traded funds (ETF) without needing to set up crypto wallets.
The firm stated:
“Through central clearing, institutional investors also benefit from significantly reduced risks in settlement of transactions.”
Likewise, VanEck noted in its own announcement that the new products follow previous launches of exchange-traded products on Bitcoin and Ether.
The firm wrote:
“Further ETNs are now following in order to open up the future market of cryptocurrencies for European investors. With this step, the accomplished ETF provider further expands its pioneering role for innovative and future-oriented investment solutions.”
The news comes amid Deutsche Börse actively expanding the range of supported crypto derivatives products across its operated exchanges.
Thus, on September 13, Deutsche Börse’s derivatives exchange, Eurex, debuted crypto derivatives trading with ETC Group’s Bitcoin (BTC) ETN futures product. Earlier this year, Xetra debuted trading of Ether-based ETPs by ETC Group.