The first Ethereum-based exchange-traded notes (ETN) are available for trading on the Swedish NASDAQ exchange, announced the issuer XBT Provider by CoinShares.
"The listing of these two Ether ETNs is a major win for European investors who have been requesting these products for over a year now. As of today, if investors want hassle-free exposure to the price movements of ether, they simply call their broker or trade on their normal brokerage platform – that’s truly remarkable. We are thrilled to be able to deliver on investor demand via a safe, familiar route in Nasdaq," says Laurent Kssis, MD of XBT Provider by CoinShares.
Yesterday, a glitch in trading stopped the product for a while, but as of today operations resume as usual, filling the order books anew.
The price of the Bitcoin Tracker follows the market movements of Bitcoin in the past year. The Ethereum products track the price of ETH on the three most liquid exchanges at the moment. ETH trades around $300, after starting the year with a price of $8 and briefly spiking toward $500 in the summer.
The Stockholm-based exchange does for European investors what Wall Street does not yet offer. Exchange-traded funds (ETF) based on Bitcoin were shot down several times by the SEC.
NASDAQ, Inc. is the largest exchange company and the operator of NASDAQ Nordic, with oversight of exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Riga, Tallinn and Vilnius. The Swedish authorities are more accepting of Bitcoin compared to
This type of investment product allows clients to gain risk exposure to cryptocurrencies without owning them outright and without learning to use the technology. The trading of an ETN or ETF would make no difference for the price of the cryptocurrency.