14 May, 2019 | AtoZ Markets - Börse Stuttgart, the second biggest stock exchange in Germany has reportedly approved listing both litecoin and XRP exchange-traded notes (ETNs)- a step that is considering to encourage the ripple investment in Germany, as per analysts.
“For the first time in Germany, investors can now buy and sell exchange-traded notes (ETNs) based on the cryptocurrencies Litecoin and Ripple (XRP). The four securities issued by XBT Provider in Sweden track the price of the two cryptocurrencies in relation to the euro and the Swedish krona,” said the team of Börse Stuttgart, which is the ninth largest exchange in Europe.
ETNs will operate under strict regulations, similar to those of exchange-traded funds (ETFs).
Analysts read that launching crypto-backed ETNs on an exchange like the Börse Stuttgart may increase the liquidity of litecoin and XRP.
Spotlight on the current situation of XRP and Litecoin
Ripple has lately showed signs of potential break down below, at press time, contrary to how the other cryptos are behaving currently, as the AtoZ Markets’ analysis shows.
But still, the currency surged from 32 cents to over 38 cents early on Tuesday, staying within the range that has now lasted for nearly five months.
In total since the December low, Ripple has accumulated a value increase of 32%, while Bitcoin, Litecoin and Ethereum have gained 150%, 340% and 150% respectively in the same period.
On the other hand, the latest reads since the beginning of May until now expect Litecoin to surge during the upcoming months before its halving is due in next August.
Halving is the process of the splitting the reward a miner gets into two halves after a predetermined block in the blockchain.
The halving happens every four years, meaning, and the upcoming one is the crypto’s second halving, with the first one having occurred on Aug 25, 2015.
As referred to above, the second halving will happen in August 2019 (ETA date: 08 Aug 2019 22:42:52). This time the Litecoin’s block reward will get reduced from 25 LTC to 12.5 LTC for the next 840,000 blocks.