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.
ETC (exchange-traded commodity/cryptocurrency) is now available to investors in 16 EU countries via listing on Deutsche Börse XETRA, the largest ETF trading platform in Europe. XRPetc aims to physically replicate the performance of Ripple (XRP) with every unit of the ETF backed by real coins, providing pure exposure to the underlying digital asset.
The new vehicle aims to be a low-cost product offering regulated access to the XRP token, while boasting institutional-grade security and custody, and 100% physical functionality that matches other ETC securities in the ETC Group .
The company says it was produced in response to strong demand from institutional investors for exposure to the performance of Ripple’s native currency. The world’s sixth-largest cryptocurrency by market capitalization has been gaining momentum alongside other cryptocurrencies, though it continues to run into controversy with the SEC claiming it was a security and not a currency.
Bradley Duke, Founder and Co-CEO of ETC Group, said, “Ripple is rapidly becoming a leader in global payment systems with hundreds of financial institutions choosing Ripple to deliver a better international payment experience to their customers, real time. By launching this latest ETC in our growing portfolio of high-quality, physically backed digital assets, we continue to expand our offering to investors, providing access to an ever-widening range of currencies and digital assets, especially those that accumulate large market caps. The success of our market-leading products has been driven by our partnerships with world-class liquidity providers to deliver high liquidity and tight trading spreads.
ETC Group has expanded its list of crypto ETPs
Hector McNeil, co-founder and co-CEO of HANetf: “We are excited to partner again with ETC Group to deliver 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 exploded, 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 momentum with its speed and reliability.
ETC Group recently expanded its list of cryptocurrency exchange-traded products (ETPs) with 11 cryptocurrency digital asset exposures. Its crypto ETC catalog includes Bitcoin, Ethereum, Solana, Cardano, Polkadot, Litecoin, Avalanche, Cosmos, Polygon, and Uniswap.
Physically backed, the XETRA listing puts XRP ETC within particularly easy reach of investors in Germany, which now has some of the most crypto-friendly tax laws in continental Europe. Trading XRP through an ETP structure removes the technical challenges associated with cryptocurrency such as setting up a wallet or unregulated trading or exchanges.