In an announcement, XBT Provider AB says that it has brought in the authorization of Bitcoin Tracker One. It is the first Bitcoin-based security available on a regulated exchange. The company says that Bitcoin Tracker One is designed to mirror the return of the underlying asset, U.S. dollar (USD) per Bitcoin.
Nonetheless, the product is an exchange traded note designed to track the movement of the underlying asset after fees. Announcing the Bitcoin Tracker One, it said that it is launching this financial instrument to meet the needs of investors’ growing appetite for exposure to Bitcoin prices their number is growing quite significantly.
At the occasion, Alexander Marsh, Chief Executive Officer of XBT Provider admitted that the company is proud to offer the world’s first “Bitcoin tracker” to be traded on a regulated exchange. He said that by enabling this easy and secure way to invest in Bitcoin the company hopes to encourage new people.
To encourage new people the company is expected to eliminate the boundaries that earlier prevented individuals and companies from being able to actively invest in what is to be the future of money. It is designed to provide investors with convenient access to the returns of the underlying asset, U.S. dollar (USD) per Bitcoin, less investor fees.
Trading Like Any other Listed Instrument
Nonetheless, Bitcoin Tracker One is authorized by Sweden’s financial supervisory authority, Finansinspektionen. The company aims to admit it to trading on Nasdaq Stockholm on May 18th, 2015. Here traders can trade like any listed instrument as Bitcoin Tracker One is traded in the same manner as any share or instrument listed on the NASDAQ exchange in Stockholm.
The company says that to invest, traders need an account, which is obtained through their bank, advisor or online broker. It is going to be traded during normal opening hours i.e. Monday to Friday, 9:00 to 17:25 (CET). Staffan Helgesson, General Partner at Creandum and Board Member of XBT Provider admits that these are exciting times for the Bitcoin ecosystem.
Elaborating his point Helgesson says that Bitcoin Tracker One will be the world’s first financial instrument that provides consumers and institutions the possibility to invest in Bitcoins without holding coins themselves. XBT Provider clears that it constructs and issues the product Bitcoin Tracker One and does not give any financial advice or accept client funds.
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