Recently, publicly traded brokerage XTB announced a partnership with ETF management company VanEck. The aim is to promote passive investment in Spain through XTB's ETF investment program, making it easier for retail investors to incorporate VanEck's latest products into their portfolios.

This collaboration highlights both parties' commitment to the rapidly growing Spanish ETF market. According to XTB, 70% of its global clients start their investments with ETFs and stocks. XTB is striving to become the go-to multi-product investment platform in Spain.

Javier Urones, Head of XTB Spain, stated, "We are delighted to partner with VanEck, one of the world's leading ETF management companies. Many of our Spanish clients are already investing in their products. We hope this collaboration will further enhance awareness of ETFs and investment programs, making them one of the best saving options for retail investors."

XTB launched its ETF investment program for passive investors at the end of 2023. Initially rolled out in Portugal and Slovakia, the program quickly entered the Spanish market.

Through XTB's investment platform, users can invest in over 350 ETFs covering a wide range of asset classes, including stocks, bonds, commodities, and recently added clean energy funds.

The collaboration also aims to improve the saving culture in Spain, addressing the country's limited saving capabilities. Currently, Spain's savings rate is below 6%, whereas other European countries like France and Belgium exceed 12%.

XTB recently published a report titled "The Future of Savings in Spain," which indicates that Spain, second only to Germany in the EU, has one of the largest amounts of underutilized savings. Through this partnership, XTB and VanEck hope to raise awareness of the benefits and necessity of regular saving, tailoring saving strategies to each client's capability.

Eduardo Escario, VanEck's Regional Business Development Director, commented, "We are very pleased to partner with XTB to promote ETF investing. ETFs are tools that help achieve diversification and low-cost investing, meeting the needs of retail clients."

It is worth noting that VanEck is not the first major asset management company to partner with XTB to promote ETF investing. In late February, XTB reached a similar agreement with BlackRock, collaborating in the Spanish market.

To further develop its passive and easy investment products, XTB added social trading features to its platform in March and entered the UK's £400 billion ISA market.