Nasdaq today announced that Bitcoin Tracker One, a tracker certificate that uses the Bitcoin as underlying asset, starts trading at Nasdaq Stockholm exchange. Bitcoin Tracker One is issued by Stockholm-based company XBT Provider, part of the KNC Group.
“We are proud to offer the world’s first Bitcoin tracker to be traded on a regulated exchange. 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,” said Alexander Marsh, CEO of XBT Provider.
“All asset classes can benfit from the transparency and price formation functionalities of lit market trading,” said Adam Kostyál, senior vice president and head of European listings at Nasdaq. “This should therefore help inform institutional and retail investors alike who are seeking investment exposure related to Bitcoin through products like this,” he added.
Bitcoin Tracker One is designed to provide investors with convenient access to the returns of the underlying asset, U.S. dollar (USD) per bitcoin, less investor fees. Bitcoin Tracker One is authorized by Sweden’s financial supervisory authority, Finansinspektionen, and will be admitted to trading on Nasdaq Stockholm. The first day of trading is expected to be May 18th, 2015.
“These are exciting times for the bitcoin ecosystem,” said Staffan Helgesson, General Partner at Creandum and Board Member of XBT Provider. “Bitcoin Tracker One will be the world’s first financial instrument that provides consumers and institutions the possibility to invest in bitcoins without holding coins themselves.”
XBT Provider is owned by Swedish KNC group, which is known for installing a datacenter in the region of North Pole in Sweden, near the Arctic Circle, last year. The customers of KNC group have recently filed a class action lawsuit against the firm complaining about the late products delivery, poor performance of its products and even accusing it of selling second hand machines.
XBT Provider AB is a public limited liability company established in Sweden with headquarters in Stockholm. The issuer is incorporated in accordance with Swedish law and is registered with the Swedish companies’ registration office under the number 559001-3313.
Mangold Fondkommission, a Stockholm-based brokerage and investment bank, serves as liquidity provider for Bitcoin Tracker One. The bank is a member of Nasdaq Stockholm exchange and helps XBT Provider with clearing services.