XBT Provider’s Ether ETNs Are Now Available On Nasdaq Stockholm

Announcements, Investing | October 12, 2017 By:

XBT Provider has announced the launch of two ether-based exchange-traded notes (ETNs). The ether ETNs are now available for trading on the Nasdaq Stockholm exchange.

XBT Provider, a subsidiary of CoinShares headed by Global Advisors co-founder and director Daniel Masters, is the issuer of the world’s first bitcoin ETNs, launched in 2015. XBT Provider manages Bitcoin Tracker One and Bitcoin Tracker Euro. These instruments allow anyone to invest in bitcoin as ETNs from anywhere in the world.

The two new ether ETNs, COINETH and COINETHE, are denominated in SEK and EUR, respectively. In similar fashion to the group’s bitcoin ETNs, the ether ETNs are structured to track the price of ether as determined by an index rate comprising the daily average of the three most-liquid of a select group of exchanges. The ETNs are traded during normal market hours on Nasdaq Stockholm.

“We are happy to be able to provide investors with this new investment opportunity,” said Helena Wedin, head of ETP Services Europe at Nasdaq. “Given the high interest we have experienced for the previous listings from XBT Provider,  it is exciting to now expand the offering into this unique exchange traded certificate. While it is important to acknowledge that exposure to an asset in its early stage of development, such as a digital currency, comes with a risk, trading ether on Nasdaq Stockholm provides investors with the protection provided by a regulated infrastructure, well-known marketplace, and accessibility through their ordinary brokers.”

“It was a little over two years ago that the bitcoin ETNs began trading – offering investors exposure to bitcoin via an established exchange for the first time,” said Ryan Radloff, Co-Principal at CoinShares. “Today, we are able to bring ether to the market and mark another major first. It is important to remember how far and how fast the space has matured in the less-than eight years since this revolution began.”