XBT Provider, which manages the only way for institutional investors to get involved with BTC through their ETN, announced yesterday they have now launched two Exchange Traded Notes (ETNs) which track the price of Ether – Ether Tracker One (COINETH:SS) and Ether Tracker Euro (COINETHE:SS).
Both are now available for trading on Nasdaq Stockholm, which is accessible worldwide through usual stock platforms. Laurent Kssis, Managing Director of XBT Provider, says:
“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.”
The ETNs are traded in Swedish money or Euro respectively, and track the price of ETH based on the average price of the three most liquid exchanges.
Their prospectuses have further been approved by Sweden’s FSA, with Stockholm’s Nasdaq pioneering crypto trading. Helena Wedin, head of ETP Services Europe at Nasdaq, says:
“We are happy to be able to provide investors with this new investment opportunity. Given the high interest we have experienced for the previous listings from XBT Provider it is exciting to now expand the offering into this unique exchange traded certificate.
While it is important to acknowledge that exposure to an asset in its early stage of development, such as a digital currency, comes with a risk, trading Ether on Nasdaq Stockholm provides investors with the protection provided by a regulated infrastructure, well-known marketplace and accessibility through their ordinary brokers.”
Ether Tracker One is now the first ever ether-referenced security available on a regulated exchange, and the only one of its kind as far as we are aware.
It is available in 179 countries and is traded in the same manner as any other share or instrument listed on the Nasdaq exchange in Stockholm, trustnodes is told.
XBT provider has been brought under the umbrella of Coinshares group which recently launched with $300 million in crypto-assets by bringing under its brand XBT ETNs and GABI, a crypto investment management firm. Daniel Masters, Co-Principal at CoinShares, said:
“We are bringing these pioneering products under one brand so that investors can grow with a familiar partner. It’s the next logical step in professionalizing crypto-finance – as more assets mature in the space, more investors will demand exposure.”
Coinshares tells us their team is composed of experienced finance professionals from JP Morgan, Lehman Brothers & State Street and:
“Some of the biggest retail brokerages in the United Kingdom, France, Germany, Italy and Denmark all began to offer clients access to bitcoin exposure through two of CoinShares’ exchange traded bitcoin notes issued by XBT Provider AB.” While Ryan Radloff, Co-Principal at CoinShares, says:
“We have seen governments and traditional financial institutions fight, fail, embrace and ban bitcoin. We have seen a futures market form, leverage layers deepen and merchant adoption increase.
In the last 18 months, at least 15 cryptocurrency ‘funds’ hit the market and at least 5 crypto-based investment products are currently pending review with regulators in the U.S. and elsewhere.
Now, CoinShares represents the first branded group of investment products in crypto-finance and we could not be more excited to continue to deliver smart access to the crypto-revolution.”
A digital revolution indeed of which CoinShares may grow to be its darling, so achieving what none could so far, offering this space and the world a regulated means of investing in bitcoin or ethereum through your Stocks and Shares portfolio.