Bitcoin-based Security Launches on Stockholm Exchange

Investing | May 20, 2015 By:

On Tuesday, May 19, The first Bitcoin-based security began trading on the Nasdaq Stockholm exchange. Called Bitcoin tracker XBT Provider, the financial instrument was created by a company of the same name, a business owned by the KnCMiner Group.

“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 XBT Provider CEO Alexander Marsh.

The new financial product will allow traders to speculate on the dollar bitcoin exchange rate, something that is known for its volatility. XBT Provider plans on bringing more Bitcoin financial instruments in the future.

The security was approved by Sweden’s financial regulator, Finansinspektionen, last month.