Article Image

IPFS News Link • Bitcoin

Bitcoin Tracker One ETN Starts Trading on Nasdaq Stockholm

• https://bitcoinmagazine.com

Two weeks ago XBT Provider AB announced the authorization of Bitcoin Tracker One, the first Bitcoin-based security available on a regulated exchange. Today, Bitcoin Tracker One started trading on Nasdaq Stockholm.

"NASDAQ OMX Stockholm decides to officially list 1 Exchange Traded Note issued by XBT Provider AB with effect from 2015-05-18," announced XBT Provider AB on Friday. "We are proud to offer the world's first "Bitcoin tracker" to be traded on a regulated exchange," states the XBT Provider website. "By enabling this easy and secure way to invest in Bitcoin we hope to have eliminated the boundaries that earlier prevented individuals and companies from being able to actively invest in what we believe to be the future of money."

"The world's first Bitcoin-based security on a regulated exchange has been launched in Sweden," notes the Swedish edition of the English language news site The Local. "The digital currency began trading on the Stockholm market on Monday."

Bitcoin Tracker One is an "Exchange Traded Note" (ETN) designed to provide investors with convenient access to the returns of the underlying asset, U.S. dollar (USD) per bitcoin, less investor fees. The average dollar exchange rate of bitcoin from the exchanges Bitfinex, Bitstamp and OKCoin provides the underlying reference price. A detailed breakdown of the value of Bitcoin Tracker One is given here.

"Young guys will probably buy it. Bitcoin stands for a new digital world, free from the banking system. It's almost somewhat political," savings analyst Claes Hemberg of the Avanza bank told Swedish news wire TT.


AzureStandard