XBT Provider announces Bitcoin security denominated in Euros on Nasdaq Nordic

SOURCE: https://bit.ly/1FxgY0C

bitcoinsecurityToday Stockholm-based XBT Provider AB  announced the launch of Bitcoin Tracker EUR, a bitcoin-based security pegged to the Euro. The Bitcoin Tracker EUR security will become available for trading on Nasdaq Nordic (Nasdaq OMX Nordiq) on October5 of this year.

XBT Provider, a subsidiary of KnC Group, a large Bitcoin miner and mining hardware provider, already has a Bitcoin-based securities product called Bitcoin One that launched as the world’s first ETN (Exchange Traded Note) named Bitcoin Tracker One. This ETN is also traded on Nasdaq Nordic in SEK (Swedish Kronas) weighted against Bitcoin/USD (U.S. Dollar) price matching several exchanges.

Bitcoin Tracker EUR, as mentioned above, adds a Euro-denominated tracker to the USD-denominated tracker. ETNs allow investors to invest in a particular security without the need of owning or trading directly in the underlying asset. Instead the ETN pegs itself to the underlying asset and provides returns from the underlying assets (less investor fees) in this case bitcoins traded on bitcoin markets.

“We are proud to offer a Euro-denominated instrument to meet demand from investors world-wide,” says Alexander Marsh, Chief Executive Officer of XBT Provider. “Bitcoin Tracker One has during periods been among the top 3 most traded ETNs on Nasdaq Nordic since launch. With Bitcoin Tracker EUR we hope to further eliminate the boundaries that earlier prevented individuals and companies from being able to actively invest in what we believe will be the future of money.”

Nasdaq Nordic covers Nasdaq exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Riga, Tallinn and Vilnius.

bitcoin0securityIn 2015, Bitcoin has seen increased trading volumes peaking near 17 million bitcoins and $16 million USD in March and hovering around the $240 – $260 USD per BTC mark for the past six months (with a brief inflation to near $300). XBT Provider hopes that the continued market shifts will provide a solid foundation for investors to see returns.

Author: Amanda Walker

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