A few weeks back, Bitcoin Tracker One was authorized to be the first bitcoin-based security available for trading on a regulated exchange. Its exchange-traded note (ETN) is now being traded 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,” XBT Provider AB announced. “We are proud to offer the world’s first “Bitcoin tracker” to be traded on a regulated exchange.”
XBT Provider AB is a public limited liability company formed in Sweden and incorporated under Swedish law, with statutory seat in Stockholm.
Bitcoin Tracker One Trading
“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,” XBT Provider AB added.
The digital currency began trading on the exchange this week, allowing investors to have convenient access to the returns of the underlying asset minus additional fees. This can allow profits from price speculation of the US dollar against bitcoin, enabling traders to avoid the hassle of buying and holding bitcoin directly.
Of course analysts warned that, just like any other financial trading, investing in bitcoin can come with risks.
Other similar bitcoin investment vehicles have been in existence, such as the Bitcoin Investment Trust (BIT) which is trading under the OTC Markets Group’s OTCQX exchange with the symbol GBTC. Apart from that, the Winklevoss twins are set to launch their own bitcoin investment product which will be available to investors on NASDAQ with the ticker COIN.
With the launch of more bitcoin investment vehicles on major exchanges, more investors and financial market players can be made aware of this new kind of financial security. This could help increase trading volumes and liquidity on exchanges later on.