Digital Assets: ETC Group Introduces XRP-backed ETC on Xetra

ETC Group has reportedly added an XRP backed investment product to its expanding digital assets portfolio of Exchange Traded Cryptocurrencies (ETCs) in Europe “which include BTCE, the world’s most traded crypto Exchange Traded Product (ETP).”

ETC Group, which claims to be one of Europe’s leading specialist providers of institutional-grade digital asset-backed securities, recently announced “the listing of the XRPetc – ETC Group physical XRP (Ticker: GXRP) on 22nd April on Deutsche Börse Xetra, Europe’s leading exchange for digital assets. ”

Ripple is “a blockchain-based digital payment network and protocol with its own cryptocurrency, XRP.”

Since launching in 2012, Ripple has rapidly gained acceptance “as a system for international money and security transfers by banks and financial middlemen dealing across geographies and currencies, with XRP currently ranked 6th by market cap of all cryptocurrencies.”

XRP will join the company’s suite of institutional-grade crypto exchange traded products “including Bitcoin, Ethereum, Solana, Cardano, Polkadot, Litecoin, Avalanche, Cosmos, Polygon and Uniswap that trade on XETRA.”

The new ETC will be “marketed and distributed by HANEtf and available in EUR and USD.”

Bradley Duke, Founder and co-CEO at ETC Group said:

“Ripple is rapidly becoming a leader in global payment systems with hundreds of financial institutions choosing Ripple to provide a better international payments experience for their customers, in real-time. By launching this latest ETC to our expanding portfolio of high quality, physically backed digital assets, we’re continuing to grow our offering to investors, providing access to an increasingly wide range of digital currencies and assets – especially those amassing large market caps.  The market leading success of our products has been driven by our partnerships with world-class liquidity providers to deliver high liquidity and tight trading spreads.”

Hector McNeil, co-Founder and co-CEO at HANetf, remarked:

“We are delighted to partner with ETC Group again to offer a new ETC backed by XRP. ETC Group, in partnership with HANetf, has established itself as a market leader in offering investment products focused on crypto assets. Interest in exchange traded cryptocurrencies has been booming, providing investors with a safer and more liquid way to gain exposure to digital assets. Ripple is a growing blockchain-based digital payment network that is gaining traction thanks to its rapid speed and reliability.”

Crypto ETCs provide investors “with significant benefits over direct investment in digital assets,” including:

Easy way to invest

Investors can buy and sell “like any stock or ETF through their regular broker or bank.” No need “to engage with the technical challenges of setting up a cryptocurrency wallet, products have a ticker and ISIN and can be added to an investor’s conventional stock portfolio.”

Institutional-grade asset custody

The underlying digital asset is “kept in cold-storage at a regulated custodian, and all assets are secured by an independent trustee, thus eliminating issuer default risk, a common feature for physical ETC structures.”

100% physically backed & option for physical  redemption

Investors are legally “entitled to the underlying digital asset, and can redeem the ETC for the сryptocurrency, alternatively to selling on exchange.” Hence ETC products “provide pure exposure to the underlying digital asset.”

As covered, ETC Group “develops innovative digital asset-backed securities including BTCetc – ETC Group Physical Bitcoin (BTCE) and ETHetc – ETC Group Physical Ethereum (ZETH) which are listed on European exchanges including XETRA, Euronext, SIX, AQUIS UK and Wiener Börse.”

ETC Group launched (what it claims to be) the “first centrally cleared Bitcoin exchange traded product (ETP) in June 2020 on Deutsche Börse XETRA, Europe’s largest ETF trading venue.”

ETC Group is “continuously working on expanding its suite of institutional-grade cryptocurrency backed ETPs, providing investors the opportunity to gain exposure to Bitcoin, Ethereum, Cardano, Solana and other popular digital assets on major European stock exchanges.”

HANetf is “an independent provider of UCITS ETFs, working with asset management companies to bring differentiated, modern, and innovative exposures to European ETF investors.”

Via their white-label ETF platform, HANetf provides “a complete operational, regulatory, distribution and marketing solution for asset managers to launch and manage UCITS ETFs.”


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