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XBT Provider AB has launched a new bitcoin-based security, called Bitcoin Tracker EUR, that will become available on Nasdaq Nordic on October 5, 2015.
XBT Provider AB, a Stockholm-based company owned by KnCMiner, has announced the launch of Bitcoin Tracker EUR, a new security based on the digital currency. The trading on Nasdaq Nordic exchange is anticipated to commence on October 5, 2015.
In May, XBT Provider launched its first ETN (Exchange Traded Note) based on virtual currency. Called Bitcoin Tracker One, the security is also available on Nasdaq Nordic exchange.
“We are proud to offer a Euro-denominated instrument to meet demand from investors world-wide. Bitcoin Tracker One has during periods been among the top 3 most traded ETNs on Nasdaq Nordic since launch,” said XBT Provider’s Chief Executive Officer Alexander Marsh in a press release.
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,” he added.
Bitcoin Tracker EUR, which is denominated in Euro, will enable market participants to invest in a specific security without the need of trading in the underlying asset. Investors will get an access to the returns from the underlying asset, USD per bitcoin, what means less fees for investors.
“Bitcoin Tracker One was the world’s first financial instrument that provided consumers and institutions the possibility to invest in bitcoins without holding coins themselves. It proved that XBT Provider could launch an instrument with high liquidity that very accurately tracked the price of bitcoin.
Bitcoin Tracker EUR will give the investors all the benefits of Bitcoin Tracker One, and also offer a currency they are used to invest in,” said Staffan Helgesson, General Partner at Creandum and Board Member of XBT Provider.
Bitcoin Tracker EUR has already received approval from Finansinspektionen, a Swedish financial supervisory authority and is expected to be formally admitted to trading on Nasdaq Nordic in October.
With the launch of a bitcoin-based security, XBT Provider AB intended to urge market participants invest more in the digital currency. Moreover, it is an opportunity to invest in bitcoin without the need to directly purchase and hold it.
This summer, Nasdaq teamed up with infrastructure provider Chain to work on the exchange’s new blockchain-based project. The blockchain will significantly simplify the process of securities trading and speed up the money exchange.
Besides, it will give companies a more reliable way of auditing their stock sales.The move demonstrates that the Wall Street recognizes the potential of the technology behind bitcoin and believe it can improve the financial system.