Deutsche Boerse Introduces Solana, Tron and Polkadot ETNs through VanEck

Deutsche Boerse has added three new crypto exchange-traded notes (ETNs) in its exchange. It further expands to the previously listed ETNs like BTC, ETH, BCH, and LTC.

According to Deutsche Boerse, it officially announced on Tuesday that anyone could trade its three new ETNs. The ETNs, Tron (TRX), Solana (SOL), and Polkadot (DOT), will be available on the Frankfurt Stock Exchange and Xetra.

The three ETNs launched by the German stock market operator, Deutsche Boerse, are an addition to the other cryptocurrencies on the platform. These include Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC).

Its Outstanding Significance

Crypto investors can now work faster and efficiently through Deutsche Boerse. For instance, they can purchase crypto ETNs similar to shares or exchange-traded funds (ETF) without taking time setting up crypto wallets. The digital stock exchange also added that institutional investors could significantly reduce risks in settlement transactions by making good use of central clearing.

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The German stock market operator further stated that more ETNs are significant to open up the future market of cryptocurrencies for European investors. According to the firm, it’s possible to trade each ETN on Xetra and physically collateralize and list each on the Frankfurt Stock Exchange Regulated Market. Furthermore, Xetra is the leading trading venue for crypto ETNs in Europe.

According to the ETF provider, this step further expands its pioneering role for innovative and future-oriented investment solutions. In fact, Deutsche Boerse’s launch of the new ETNs trials preceding launches of exchange-traded products on Bitcoin and Ether.

Deutsche Boerse Plans for The Future

Deutsche Boerse was the first exchange globally to launch trading in centrally cleared crypto products in June 2020. It has since provided investors access to 18 crypto ETNs from six issuers on seven cryptocurrencies.

Deutsche Boerse’s decision trails its constant need for increasing the variety of supported crypto derivatives products. In particular, Eurex, which is Deutsche Boerse’s derivatives exchange, unveiled crypto derivatives trading on September 13, with ETC Group’s Bitcoin (BTC) exchange-traded note (ETN) futures product. The derivatives exchange was the first regulated market in Bitcoin-related derivatives in Europe.

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A year ago, Xetra launched its first Ether (ETH)-based exchange-traded products (ETPs) by the ETC group. Deutsche Boerse has an average monthly order book turnover of about 900 million EUR. It may garner more than that after its move to introduce new crypto exchange-traded.