Swedish exchange Nordic Growth Market (NGM) has announced the launched of exchange-traded products tracking the value of cryptocurrencies XRP and Litecoin.

Owned by Boerse Stuttgart, Germany’s second-largest stock exchange, the NGM is an authorized exchange with operations across Sweden, Norway, Denmark and Finland.

The newly-listed products are available for European investors and are issued by XBT Provider, a CoinShares company that is domiciled in Sweden and haspreviously brought Bitcoin (BTC) and Ethereum (ETH) tracking products to the Nasdaq Stockholm exchange in 2015 and 2017 respectively.

“Investors […] in Sweden […] have demonstrated such strong support of prior crypto offerings. As an industry, it is important for us to listen, though with caution, to the requests of our investors and respond in kind,” Tommy Fransson, Deputy CEO of NGM, said.

As with XBT’s earlier products, the tracking certificate for each of the new ETPs represents “a set amount of the underlying asset (LTC and XRP) and tracks a composite index of each asset. When a certificate is purchased on exchange it is then hedged with the corresponding underlying asset 1:1.”

EU investors “whose brokerage or electronic trading platform has access to the NGM exchange can add passive LTC or XRP exposures to their brokerage, trading or, in some cases, tax advantaged accounts such as an ISK (Sweden) or SIPP (UK) accoun   

In a statement,   Boerse Stuttgart states that XBT Provider’s Prospectus is approved by the Swedish Financial Supervisory Authority and the new Certificates are governed by Swedish law, but notes that XBT Provider is not a licensed financial advisor.

The news follow Switzerland’s principal stock exchange, SIX approving the listing of an XRP-based ETP on April 2, issued by crypto derivative development firm Amun. 

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