A Litecoin ETP to Trade in a Swiss Bourse, the City of Jackson in the U.S. Could Offer Bitcoin to Employees
CoinShares Launches a New Litecoin ETP, LITE
On Apr 6, CoinShares launched a Litecoin Exchange-Traded Product (ETP) trading under the ticker symbol, LITE.
The 8th largest coin by market cap is now the third product offered by CoinShares’ institutional-grade trading platform. Interestingly, each share will be physically backed by 0.2 LTC—whose value fluctuates depending on spot rates.
LITE will trade at the SIX Swiss Exchange with its shares now listed at the Bloomberg Terminal. For each trade, CoinShares will charge a base fee of 1.5 percent. For their aggressive listing and goal of providing diversity for institutional investors, free to gain exposure in a regulated environment, CoinShares now has over $4 billion in AUM.
A day later, while talking to CNBC, Meltem Demirors, the CSO, said investors would continue allocating to Bitcoin and crypto. From this listing, it is easy to conclude that institutions are demanding LTC exposure. It is when the Bitcoin market cap and price even without the SEC approving a Bitcoin ETF.
Bitcoin and Crypto for City of Jackson Employees Being Discussed says, Mayor Scott Conger
The City of Jackson, Tennessee could end up offering their employees an opportunity to convert a portion of their earnings to crypto, Mayor Scott Conger has said.
His ability to adapt to changes has been applauded just when many states in the U.S.—like Wyoming and Florida, are looking to be leaders of crypto and blockchain by forming fitting laws.
Already, Tesla has invested $1.5 billion and now accepts BTC as a means of payment, directly gaining exposure without involving a payment processor.
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