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Spike In Crypto Ignites Rise In Global Blockchain Financial Products

ยท in Crypto News
Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology.

The recent spike in cryptocurrency prices has resulted in a global rise in blockchain financial products. This has been spearheaded by virtual currency enthusiasts who are trying out assorted investment avenues.

Bitcoin started the month of April on a high note recording a 15 percent growth on the second day of the month. Since then, Bitcoin has been on the rise and its price is currently hovering above the $5,000 mark. The price appreciation has ignited the growth of financial products with eyes set on new gains by Bitcoin and other digital currencies.

Amun Launches An XRP Exchange Traded Fund

At the beginning of this month, Amun AG, a financial technology firm based in Switzerland, launched a Ripple (XRP)-based ETP (exchange-traded fund). The ETP will be available for trading on the Swiss exchange.

According to a press release, Amun said:

“The Ripple ETP was one of the missing pieces of the puzzle, as we aim to facilitate access for investors in all major cryptocurrencies.”

New Zealand-based Company Launches An Equity Share Offer

Crossgate Capital, a New Zealand-registered firm, has launched an equity share offer. The offer is geared towards helping investors have an easy time when investing in virtual currencies. It will also minimize the risks involved when directly interfacing with cryptocurrencies. The share offer is structured in a way that investors are investing in a New Zealand-registered company.

Bank Frick Releases A BTC-ETH Tracker

Bank Frick, a Liechtenstein-based financial firm with a positive cryptocurrency relationship, released a Bitcoin (BTC) – Ethereum (ETH) Tracker. The financial institution partnered with Bitcoin Suisse, a Switzerland-based blockchain firm. The product tracks the value of BTC and ETH for two years.

Bank Frick’s head of Funds and Capital Markets, Raphael Haldner, said:

“The product’s design demonstrates the innovative capacity that links Bank Frick and Bitcoin Suisse.”

Ripple (XRP) And Litecoin (LTC) ETNs Launched As Blockchain Financial Products

XBT Provider, a reputable manager of cryptocurrency ETNs (exchange-traded notes), separately launched Litecoin and Ripple Trackers. The LTC and XRP Tracker are available for trading on Nordic Growth Market and is open to European investors. The two ETNs are open-ended and attract a 2.5% annual fund management fees.

As the crypto winter officially comes to an end, trading of Bitcoin futures on CME also recorded new highs at the beginning of April. This could bring more blockchain financial products to the forefront.

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