Instead of waiting for the Bitcoin ETFs, U.S. investors will now be able to trade exchange-traded-notes like the Bitcoin Tracker One.

Due to the continuous downfall in its valuations, the cryptocurrency market has failed to keep investors attracted to this space as the euphoria has been at an all-time low. Well, it is quite justifiable that with such a sharp fall in the Bitcoin as well as the entire altcoin sector, investors are not willing to burn their fingers in this falling market.

Moreover, the arrival of regulated investment products like Bitcoin ETF hold little hope for now, and so does the entry of institutional players in the cryptocurrency market. However, there’s still some positive news for the investors who have been eagerly waiting for the Bitcoin ETFs.

Although not exchange-traded-funds, Bitcoin investors will now be able to buy exchange-traded-note starting Wednesday, August 15. Bloomberg reports that the exchange note called the Bitcoin Tracker One is technically listed and regulated in Sweden and has been quoted in U.S. Dollars under the CXBTF tickers.

The Bitcoin exchange-traded-note (ETN) has been available on the Nasdaq Stockholm exchange since 2015 and now makes inroads in the U.S. crypto markets allowing its local investors to invest in Bitcoin without actually buying them. Ryan Radloff, the chief executive officer of CoinShares Holdings Ltd., the parent of the company that offers the ETN, said:

“Everyone that’s investing in dollars can now get exposure to these products, whereas before, they were only available in euros or Swedish krona.” Continuing, he said, “Given the current climate on the regulatory front in the U.S., this is a big win for Bitcoin.”

Unlike the ETFs, the exchange-traded-notes (ETNs) are debt instruments that are backed by the issuers like the banks. The Bitcoin Tracker One ETN can work as an alternative to Grayscale’s Bitcoin Investment Trust as they trade at a significantly lower rate in comparison to the Greyscale products.“I do see this as a competitive product. Our products historically have not traded at a premium and are liquid,” Radloff said.

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