© Reuters. FILE PHOTO: A representation of the virtual cryptocurrency Bitcoin is seen in this picture illustration taken October 19, 2021. REUTERS/Edgar Su

LONDON (Reuters) – Britain’s ETC Group said on Thursday it will this month list five new “exchange traded cryptocurrencies” at the Frankfurt stock exchange, adding to the glut of exchange-traded products at European exchanges.

Exchange-traded cryptocurrency products are seen as boosting access to the emerging asset class for a wider group of investors. Proponents say they reduce risk of exposure to cryptocurrencies, such as opaque markets and security flaws in related infrastructure.

The so-called ETCs, which will list on the Deutsche Borse’s electronic trading platform Xetra, are based on “altcoins” – smaller cryptocurrencies that have been launched in the wake of bitcoin’s growth. They include , and – the fifth, sixth and ninth largest cryptocurrencies by market capitalisation.

Altcoins tend to rise and fall in tandem with bitcoin, and are often plagued by high volatility.

ETC Group listed cryptocurrency exchange-traded products (ETPs) in Paris, Amsterdam and London in June. Investment firm WisdomTree, meanwhile, also offers ETPs in countries including Germany and Switzerland.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link