Sunday, June 26, 2022

Nasdaq Stockholm lists Bitcoin and Ether exchange-traded notes

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Nasdaq Stockholm has announced that 21Shares has listed their first two bodily backed exchange-traded notes (ETNs) on the Swedish buying and selling platform. 

The 2 devices listed, with Bitcoin (BTC) and Ether (ETH) as underlying property, symbolize a brand new phase for ETNs — a sort of unsecured debt safety that tracks an underlying index of equities and trades on a serious trade. 

Based on the announcement, the brand new ETNs will present traders entry to funding alternatives in cryptocurrencies similar to Bitcoin and Ether. 

Helena Wedin, European head of trade traded merchandise at Nasdaq, says that exchange-traded notes enable one to put money into non-traditional property whereas sustaining the transparency of a regulated market. She provides that “we’re pleased to launch this new phase at Nasdaq Stockholm with 21Shares as the primary issuer.” 

Based on the press launch, most conventional banks and brokers enable traders to commerce all ETNs listed on Nasdaq Stockholm. It is a first which opens up new potentialities to traders inquisitive about investing in cryptocurrencies, however who aren’t snug doing so on unregulated exchanges.

Associated: ETN vs. ETF: Which Is the Investor’s Dream?

The cryptocurrency market has skilled a steep rise in valuation all through the earlier 12 months. Regardless of some recent price dips, curiosity in cryptocurrencies continues to be excessive.

One motive for this sustained curiosity could also be the potential of increased institutional investment available in the market. As institutional funding in cryptocurrencies will increase, we’ll possible see extra merchandise similar to ETNs being listed on regulated exchanges. As reported by Cointelegraph in September, VanEck introduced Solana and Polkadot ETNs on Deutsche Boerse’s Xetra.