Gibraltar Stock Exchange adds bitcoin backed ETI

Investing | July 27, 2016 By:

Gibraltar Stock Exchange announced it has approved the inclusion of BitcoinETI as a tradable instrument on the exchange platform.

The BitcoinETI is being issued by a firm called iStructure PCC PLC, based in Gibraltar. Local firms Argentarius ETI Management Limited and Revoltura Limited were also involved with the issuance. The exchange said it was the first of its kind approved in Europe.

“An Exchange Traded Instrument is a stock exchange traded security that is backed by an underlying asset or a basket of assets and delivers the delta one performance of the underlying. European sophisticated investors such as asset managers, pension funds, and private bankers have now the possibility to capture the performance of Bitcoin through an EU stock exchange,” said Argentarius Group CEO Andreas Woelfl.

The Bitcoin ETI is also said to have the support of local regulators in Gibraltar, and according to one of the firms backing the product, is one of several in a planned pipeline tied to digital currencies.