ETC Group has launched a ripple exchange-traded product (ETP) in partnership with HANetf.
The XRPetc – ETC Group Bodily XRP (GXRP) is listed on the Deutsche Boerse with a complete expense ratio (TER) of 1.95%.
GXRP bodily replicates the efficiency of XRP, the native forex of blockchain-based settlement and alternate community, ripple.
XRP is presently the sixth-largest crypto asset with a market cap of $35.3bn.
Bradley Duke, founder and co-CEO of ETC Group, stated: “Ripple is quickly turning into a pacesetter in world cost methods with a whole bunch of economic establishments selecting ripple to supply a greater worldwide funds expertise for his or her prospects, in real-time.”
Hector McNeil, co-founder and co-CEO of HANetf, which is able to market and distribute the ETP, added: “Curiosity in exchange-traded cryptocurrencies has been booming, offering traders with a safer and extra liquid solution to acquire publicity to digital property.
“Ripple is a rising blockchain-based digital cost community that’s gaining traction due to its speedy pace and reliability.”
GXRP turns into ETC Group’s fourteenth product and follows the launch of its avalanche, cosmos and polygon ETPs on the finish of March.