The financial industry has not only stood up and taken note of Bitcoin in the past two years, they’ve actively been involved in funding and developing Bitcoin ventures. Of course, one of the most well known is Coinbase, where you can buy Bitcoin with complete confidence and security. Coinbase has received two rounds of financing totaling more than $25 million.
The reason that the financial industry has become involved with Bitcoin is basically because of Bitcoin’s success. It’s growing popularity has not gone unnoticed. Financial experts believe the growing Bitcoin demand will lead to higher Bitcoin prices in the future.
Now a Swedish company that has launched the world’s first Bitcoin-backed instrument on a regulated exchange in order to give investors exposure to the anticipated Bitcoin price rise in the coming months and years.
Bitcoin magazine reports:
XBT Provider, a Swedish company that has launched the world’s first Bitcoin-backed instrument on a regulated exchange (Nasdaq Nordic) is planning a global expansion following its success in the Scandinavian region.
The firm manages two Bitcoin instruments called Bitcoin Tracker One and Bitcoin Tracker Euro. The latter was launched with the approval Sweden’s financial supervisory authority, Finansinspektionen, on October 5, 2015, for the purpose of mirroring the return of the underlying asset, U.S. dollar per Bitcoin.
Bitcoin Tracker Euro as an exchange-traded note (ETN) has since become increasingly popular among investors on the Swedish regulated exchange, securing the title of the most traded ETN on Nasdaq Nordic.
With the explosive growth and increase in interest in Bitcoin ETNs, the XBT Provider team unveiled the company’s plans for global expansion of their Bitcoin instruments in an exclusive interview with Bitcoin Magazine.
Success of Bitcoin ETNs and Instruments
Bitcoin ETNs and instruments, including the Bitcoin Tracker Euro and GrayScale Investment’s GBTC, have performed exceptionally well against major reserve currencies and global asset classes since mid 2015. Currently, a share of GBTC is being traded at $57.40, and since a share of GBTC guarantees investors about one tenth of a bitcoin, investors are purchasing Bitcoin using GBTC at an average price of $602.71 per coin. That is a premium almost 40 percent higher than the actual price of Bitcoin.
>> Read the full story at Bitcoinmagazine.com