Saxo Bank Adds Bitcoin Exchange-Traded Notesbr>
Saxo Bank, a Denmark-based multi-asset and trading institution, has added exchange-traded notes (ETN) for bitcoin.
The bank said that the interest in bitcoin has risen significantly this year. This is primarily because the Asian market, especially China and Japan, has opened up. This means these countries have generated a lot of bitcoin trades.
In response to this growing interest, Saxo has added two new ETNs to its offering. Saxo clients can now get exposure to bitcoin through these two new ETNs, designed to track the movement of bitcoin against the US dollar (BTC/USD).
One note is referred to as “Bitcoin Tracker One” and is traded in Swedish Krona, and the other note is the “Bitcoin Tracker Euro.” It is traded in Euro. Both ETNs are issued by XBT Provider AB and traded on Nasdaq OMX (Stockholm).
Saxo Bank said that if their partners are subscribed to these exchanges, the bitcoin trackers will be enabled automatically on their platform.