Get the scoop on finance - sign up for mobile alerts
Bitcoin
| On
August 15, 2018

Forget the Bitcoin ETF – US Investors Can Now Buy BTC Exchange-Traded Notes

By Daily Hodl Staff

Starting today, US investors can buy a Bitcoin exchange-traded note (ETN) through their online broker, bank or advisor. Although the CoinShares product is listed and regulated in Sweden, the note, Bitcoin Tracker One (CXBTF), is now listed in US dollars.

The offering gives investors who may be concerned about a direct investment in Bitcoin a way to get into the market.

ADVERTISEMENT

“Everyone that’s investing in dollars can now get exposure to these products, whereas before, they were only available in euros or Swedish krona,” Ryan Radloff, CEO of CoinShares Holdings Ltd., told Bloomberg. “Given the current climate on the regulatory front in the US, this is a big win for Bitcoin.”

The ETN has been listed on Nasdaq Stockholm since 2015 for European investors. It’s offered through Stockholm-based XBT Provider AB, subsidiary of CoinShares, which buys the actual Bitcoin on behalf of its customers. The ETN has already attracted over $1 billion.

Although the cryptocurrency bear market has left Bitcoin Tracker One down about 50% for the year, it opens the doors for a new wave of investors.

ADVERTISEMENT

Mark Cuban is a Bitcoin XBT customer.

[the_ad id="42537"] [the_ad id="42536"]
&nbsp
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.