Polkadot and Solana ETNs Reportedly Launched by Deutsche Boerse
When it comes to the adoption of cryptocurrencies, Germany has also started making its presence known throughout the world. Several mainstream firms in Germany have started forming partnerships with different kinds of crypto firms to gain more knowledge in the crypto-verse.
One of the most prominent firms from the mainstream industry in Germany is Deutsche Boerse that has been constantly exploring the cryptocurrency verse. Deutsche Boerse is one of the major stock market operators in Germany and it is planning to do more in the cryptocurrency sector.
The sources reveal that the Deutsche Boerse has just announced the launch of three new exchange-traded notes (ETN) in the cryptocurrency sector. The exchange-trade notes being listed by Deutsche Boerse are derivatives for cryptocurrencies. The operator has revealed that the three ETNs it is listing will be by VanEck.
The announcement in regards to the launch of the three ETNs was made by Deutsche Boerse on Tuesday, September 21, 2021. In the announcement, Deutsche Boerse has revealed that the three ETNs would be for Tron (TRX), Solana (SOL), and DOT by Polkadot.
The operator has confirmed that the investors would be able to trade in all three ETNs through Xetra, one of the digital stock exchanges being operated in Germany. In addition to the digital stock exchange, the investors would also be able to trade in all three ETNs through the Frankfurt Stock Exchange.
With the launch of the ETNs, Deutsche Boerse has just offered three ETNs to investors interested in the cryptocurrency sector. The operator has already listed several ETNs in the stock exchange markets of Germany for several different crypto-derivatives.
In addition to the TRX, SOL, and DOT ETNs, the German investors already have access to several other major crypto-derivatives. These ETNs include Litecoin (LTC), Bitcoin Cash (BCH), Ether (ETH), and Bitcoin (BTC).
Deutsche Boerse has also provided more details as to the functionality of the ETNs through the exchanges. The users will be able to purchase cryptocurrency derivatives through the ETNs. They will be able to do it in the same fashion as they are able to purchase shares for any other company or industry.
The major benefit of the ETNs is that the investors will not be directly interacting with cryptocurrencies. This way, the investors will not be required to set up any wallets in order to store cryptocurrencies. This functionality is almost as same as the exchange-traded funds (ETF) that are also being adopted on a large scale in countries such as Canada, Europe, and the United States.
With the help and support of central clearance, the investors won’t have many risks as they will be trading in a regulated environment.
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Text source: Coinfrog
