First Bitcoin-Based Security Authorized on Nasdaq Stockholm
XBT Provider to launch first virtual currency instrument on regulated exchange.
XBT says Bitcoin Tracker One will be launched in response to "investors' growing appetite for exposure to Bitcoin prices," providing investors with access to returns on an underlying asset minus investor fees. The instrument has been authorized by Finansinspektionen, Sweden's financial supervisory authority.
"By enabling this easy and secure way to invest in Bitcoin we hope to have eliminated the boundaries that earlier prevented individuals from being able to actively invest in what we believe to be the future of money," says Alexander Marsh, CEO of XBT Provider.
Despite continued skepticism of digital currency, industry involvement has grown since the start of the year. The New York Stock Exchange (NYSE) made a minority investment in bitcoin wallet and platform Coinbase in January. Earlier this month UBS announced it would establish a dedicated lab in London for examining Blockchain, the underlying ledger technology developed for digital currencies.
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