XBT Provider by CoinShares, the issuer behind the Bitcoin Exchange Traded Notes (ETNs), announced today that the first Ethereum ETNs are now available for trading on Nasdaq Stockholm.
“The listing of these two Ether ETNs is a major win for European investors who have been requesting these products for over a year now. As of today, if investors want hassle-free exposure to the price movements of ether, they simply call their broker or trade on their normal brokerage platform – that’s truly remarkable. We are thrilled to be able to deliver on investor demand via a safe, familiar route in Nasdaq,” says Laurent Kssis, MD of XBT Provider by CoinShares.
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The two ETNs, COINETH and COINETHE are denominated in SEK and EUR respectively. They track the price of Ethereum as the average of the three most liquid cryptocurrency exchanges.
“We are happy to be able to provide investors with this new investment opportunity. Given the high interest we have experienced for the previous listings from XBT Provider it is exciting to now expand the offering into this unique exchange traded certificate. While it is important to acknowledge that exposure to an asset in its early stage of development, such as a digital currency, comes with a risk, trading Ether on Nasdaq Stockholm provides investors with the protection provided by a regulated infrastructure, well-known marketplace and accessibility through their ordinary brokers,” says Helena Wedin, Head of ETP Services Europe at Nasdaq.
“Today is a historical moment for Ethereum and ether as an asset; and for the future of crypto-assets. It was a little over two years ago that the bitcoin ETNs began trading – offering investors exposure to bitcoin via an established exchange for the first time. Today, we are able to bring ether to the market and mark another major first. It is important to remember how far and how fast the space has matured in the less than 8 years since this revolution began,” says Ryan Radloff, Co-Principal at CoinShares.