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Cardano and Stellar now tradable at the second-largest German stock exchange

Cardano and Stellar now tradable at the second-largest German stock exchange
Jordan
Major
5 months ago
2 mins read

Börse 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.

Börse 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.

Börse Stuttgart listed the first ETN in November 2017. ADA and XLM securities trading is enabled by crypto investment firm 21Shares.

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 Börse Stuttgart. 

In April, the Börse 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.

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Jordan Major
Author

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.