ETC Group, based in London, will list its entire portfolio of crypto exchange-traded products (ETPs) offering exposure to Bitcoin (BTC), Ether (ETH), and Litecoin (LTC) on Austria’s main stock exchange.
The ETC Group announced on Wednesday that the Wiener Börse, or Vienna Stock Exchange, would list three of its crypto exchange-traded products that are “100% physically backed and central counterparty cleared.” These include the company’s carbon-neutral Bitcoin, Litecoin-based product, and Ether ETP.
Similar listings have already been made by the ETC Group on stock markets in London, Paris, Amsterdam, Zurich, and Frankfurt. The ETPs are designed to provide investors with exposure to cryptocurrency while providing the regulatory safeguards given to traditional stocks.
Previously claiming that its crypto product was similar to trading Bitcoin “via an ETP structure,” the company now claims that its offerings are not the same as an exchange-traded fund since they are single asset instruments.
Lang & Schwarz will be the Market Maker on the Vienna Stock Exchange, with the crypto goods delivered through ETP provider HANetf. The ETC Group is unrelated to the cryptocurrency Ethereum Classic, despite its name.
While organisations such as the ETC Group have been rolling out crypto ETPs across Europe this year, exchange-traded funds in the United States are still in limbo since the Securities and Exchange Commission (SEC) has yet to accept any applications.
VanEck, Valkyrie Digital Assets, Fidelity Investments, and others have filed paperwork with the SEC to request crypto ETFs, but the SEC has consistently postponed its decision or opened the application to public comment.
