Cardano and Stellar now tradable at the second-largest German stock exchange
Boerse Stuttgart, the second-largest German stock exchange, has launched Cardano (ADA) and Stellar (XLM) exchange-traded notes (ETNs), bringing the total number of ETNs on the platform to 22. The price of the assets will be tracked based on the euro.
Investors will benefit from the extended trading hours of the crypto ETNs running from 8:00 to 22:00 hours, taking advantage of crypto volatility. The exchange notes that traders will also take part in the assets’ price development.
Boerse Stuttgart’s Director of Trading Jürgen Dietrich notes that the increasing crypto interest played a role in the latest product.
‘Interest in cryptocurrencies continues to grow, and market momentum remains strong. With the ETNs, investors can now participate in the price development of the two cryptocurrencies Cardano and Stellar through exchange-traded securities,’ said Dietrich.
Boerse Stuttgart listed the first ETN in November 2017 with the 21 Shares providing the ADA, XLM securities.
Four ETNs part account for exchange-traded products with high returns
Furthermore, four ETNs made up 30 exchange-traded products with the highest order book turnover in 2021 for Boerse Stuttgart.
In April, the Boerse Stuttgart recorded a trading volume of about €8.4 billion, with securitized derivatives accounting for the largest share. The product registered a trading volume of over €3 billion. Elsewhere, leverage product accounted for a turnover of about €2.1 billion.
Furthermore, exchange-traded products (ETPs) had a turnover of €1.9 billion, a 17% increase compared to April 2020.