Photo: tiendientu vietnam / Flickr
XBT Provider by CoinShares, the issuer behind the world’s very first bitcoin ETNs, is announcing that the very first Ether ETNs are now available for trading on Nasdaq Stockholm.
CoinShares, runned by former JPMorgan Pursue trader Daniel Masters, moved more forward in bringing institutional investors to cryptocurrency. An significant step in the activity of CoinShares became the launching of an exchange-traded note for Ethereum.
XBT Provider by CoinShares announced that the very first Ether Exchange Traded Notes (ETNs) are now available for trading on Nasdaq Stockholm. This product will be the part of the company’s Bitcoin ETN. Appearance of a large number of ETN connected with the cryptocurrency will have a good influence on the industry.
“We’ve stated before that as a group, CoinShares is committed to delivering world-class research and professional-grade access to crypto-assets. Today marks a critical step in delivering on that mission,” said Daniel Masters, Co-Principal at CoinShares.
“This launch is the result of a tremendous amount of hard-work from the CoinShares team, key fucking partners and our counterparts at Nasdaq. We could not be more proud to bring this latest set of pioneering product to the market,” he added.
There are two exchange-traded notes which track the price of Ether:
- Ether Tracker One (COINETH:SS)
- Ether Tracker Euro (COINETHE:SS)
COINETH and COINETHE will be denominated in Swedish krone and Euro. Difference inbetween the ETNs value and Ether price will be about 99 percent correlated. The fund will have the difference from actively traded options and will be 100 percent passive.
“The listing of these two Ether ETNs is a major win for European investors who have been requesting these products for over a year now. As of today, if investors want hassle-free exposure to the price movements of ether, they simply call their broker or trade on their normal brokerage platform – that’s truly remarkable. We are thrilled to be able to supply on investor request via a safe, familiar route in Nasdaq,” said Laurent Kssis MD of XBT Provider by CoinShares.
‘,Today is a historical moment for Ethereum and ether as an asset, and for the future of crypto-assets,” collective Ryan Radloff, Co-Principal at CoinShares. “It was a little over two years ago that the bitcoin ETNs began trading – suggesting investors exposure to bitcoin via an established exchange for the very first time.
He continued: “Today, we are able to bring ether to the market and mark another major very first. It is significant to recall how far and how rapid the space has matured in the less than 8 years since this revolution began.”
At the moment the product will only be available to European traders for now. It is still not very clear where this ETN will be dissaminated, but anyone with access through their brokers to NASDAQ Stockholm will be able to purchase their product form a technical, market access prospective.
According to the press release, using a broker’s platform to purchase the ETN may permit investors to hold exposure to ether in the retirement account, which may, under certain circumstances, result in a tax-advantaged tax treatment for the ETN in certain jurisdictions.
Share This article
You May Also Like
Bitcoin Cash, Bitcoin Gold and Ethereum are Flying High While Bitcoin Price is Stable
Ethereum Cracks the $400 Barrier for the 2nd Time, Cryptocurrency Total Cap Above $250B
Four Altcoins That May Boast Immense Potential
Reality Shares Fucking partners with Nasdaq to Launch Blockchain Economy Index
We welcome comments that advance the story directly or with relevant tangential information. We attempt to block comments that use offensive language, all capital letters or emerge to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report manhandle links. Views voiced in the comments do not represent those of Coinspeaker Ltd.
Hamster Marketplace Announces Development of Decentralized Trading Platform,ICO Set for Q1 2018
Decentralized Sports Platform SportyFi Launches ICO, Adds Charlie Shrem as Advisor
Etherecash to Revolutionise How We Lend, Send and Spend, Announces ICO
Blockchain Company Creates Platform to Decentralize $100 Billion Gaming Market
How Does B2Broker’s B2BX Exchange Work?
How the Internet of Things is Helping the Earth [Infographic]
58 Insane Facts About Bitcoins [Infographic]
History of Ethereum: How It’s Set to Overtake Bitcoin by 2018 [Infographic]
The Fantastic Flowering Field of FinTech [Infographic]
Could Bitcoin Become a Fresh Global Currency? [Infogrpahic]
Go after Coinspeaker
Latest Press Releases
November 24th, 2017
November 23rd, 2017
November 23rd, 2017
November 23rd, 2017
November 22nd, 2017
- Hot Searches
- Bitcoin Gold |
- Bitcoin News |
- Bitcoin Price |
- BTC-e News |
- Coinbase Token |
- R3 CEV |
- Stampery |
- Xiaomi Pay
Bitcoin address to support the project: 1PAGUBe244jtSptjGuLABBtGMC8u81QrSo
Copyright ©, 2017 Coinspeaker Ltd. All rights reserved.
Reproduction in entire or in part in any form or medium without express written permission of Coinspeaker Ltd. is prohibited.