The London-based ETC Group announced the listing of a physically backed Litecoin-based exchange-traded product on Deutsche Boerse’s Xetra platform. CoinDesk reports this.
According to the report, the instrument under ticker ELTC will launch on 14 April. The management fee will be 2%.
In March 2021, ETC Group and 21Shares launched Ethereum-ETP under ticker ZETH. Trading for the Bitcoin-ETP (21XC) also began then, its listing on Deutsche Börse’s electronic trading platform having also been approved.
In April, CoinShares announced the launch of a Litecoin-based exchange-traded product on SIX that is physically backed in cryptocurrency.