+ 7.05
+ 2.21%
+ 4.00
+ 1.18%
+ 6.32
+ 1.54%
+ 1.27
+ 0.94%
+ 1.54
+ 0.9%

Litecoin (LTC) Exchange-Traded Commodity To Be Launched On German Stock Exchange, Coin Price Reacts Negatively

April 12, 2021 3:36 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Litecoin (LTC) Exchange-Traded Commodity To Be Launched On German Stock Exchange, Coin Price Reacts Negatively

Litecoin (CRYPTO: LTC) exchange-traded commodity (ETC) will soon be traded on Deutsche Boerse’s Xetra German stock exchange.

What Happened: According to Coindesk, London-based crypto asset manager ETC Group plans to launch its Litecoin ETC on Xetra on April 14.

The product will likely be a central counterparty cleared ETP with a management fee of 2% per year marketed and distributed by independent ETF investment platform 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," ETC Group CEO Bradley Duke commented.

According to CoinMarketCap data, Litecoin reacted with significant volatility to the news. Within 24 hours, after touching $246.48, it rose by 4.7% to $258.07, then falling by nearly 6.6% to $241.1. 

At press time, Litecoin was traded at $244.56.

Related Articles

Here's How You Can Get Shiba Inu For Free

Shiba Inu (CRYPTO: SHIB) — the token that recently saw three-digit gains in single days — will be distributed among the users of crypto financial services firm Crypto. read more

DBS Bank Singapore Launches Asia's First Direct Crypto Offering To Clients

Asia’s largest bank has moved to offer its wealthiest clients direct access to cryptocurrencies. read more

7 Surprising Bitcoin Metrics You Should Watch Amid Latest Fall

Bitcoin (CRYPTO: BTC) recently saw a major downwards price movement after Tesla Inc. (NASDAQ: TSLA) announced it wouldn't b read more

SkyBridge's Scaramucci Says It Takes 'Diamond Hands' To Hold Bitcoin Right Now

Bitcoin (CRYPTO:BTC) is emerging as an asset class, said Anthony Scaramucci, founder and co-managing partner of SkyBridge Capital, Friday on CNBC's "Fast Money: Halftime Report." The Bitcoin price action in 2021 shows there is a tremendous amount of demand for the cryptocurrency, including institutional demand, Scaramucci said. read more