- Coinshares launches ETN for Ether
- As for now the trade is limited for Europeans only
- Represents the most diverse investment product line- up in professional crypto- finance
Announced on 11th October, Coinshares headed by former JP Morgan Chase trader Daniel Masters, is launching an exchange credit note for Ether. Ether (ETH) is the cryptocurrency and native token of the Ethereum that power the Ethereum blockchain.
In the world of traditional investments digital currencies like Bitcoin leading the market trends, as now ether’s movement can be followed on Nasdaq Stockholm. The ETNs are traded during normal market hours on Nasdaq Stockholm. ETN is an unsecured and unsubordinated debt security issue by an under writing bank to provide investors access to the returns of various market benchmarks.
Investors looking to join the price movement of ether just got a fresh but familiar option- 2 ETNs which track the price of Ether:
- COINETH: SS- Ether Tracker one
- COINRTHE: SS- Ether Tracker Euro
The dual offerings one dominated in Swedish Kronas and other in Euros, are first of their kind for ether. Earlier both had no exchanged traded options. This event is historic in a way for Ethereum and Ether as an asset and also a kickpusher for future of crypto asset. After completion of almost two years of bitcoin ETN this decision makes Nasdaq Stockholm, the only European exchange to offer more than one digital currency. Bitcoin and Ether have already garnered a lot of attention this year due to explosive surge in prices. Difference between ETNs value and Ether price will e about 99% correlated.
XBT provider AB (Publ), by Coinshares company, is the Swedish- domiciled, being the issuer behind the world’s first bitcoin ETN announced the first ether ETN better available for trading on Nasdaq Stockholm.
The introduction of these two ethers ETN is said to be a winning situation for European investors who have been requesting these products for over a year now. As quoted by Laurent Kssis MD of XBT providers by Coinshares they are thrilled to be able to deliver on investor demand services via a safe, familiar route in Nasdaq. While the new ether based ETN is being marketed exclusively to European investors for regulatory reason any one which access through their brokers to Nasdaq Stockholm will be able to buy the product from a market access prospective. Currently the product will only be limited to European audience. It is to be noted that the 2 ETNs, COINETH and COINETHE are most dominated in SER and EUR respectively. In similar fashion to the group’s bitcoin ETNs, the ether ETNs are designed to track the price of ether, as determined by an index rate consisting of an average of 3 most liquid of a select group of exchanges daily. In a statement given by Helena Wedin, head of sevices Europe at Nasdaq, said that they are happy to be able to provide investors with this new investment opportunity. While it is important to acknowledge that exposure to an asset in its birth stage of development such as digital currency comes with a risk. Therefore trading ether on Nasdaq Stockholm provides investors with the protection provided by a regulated infrastructure, well- known marketplace and accessibility through their ordinary brokers. With this Coinshares moved more focused in calling and organizing institutional investors to cryptocurrency.
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