American investors can now buy Bitcoin exchange-traded note (ETN) through your online broker, Bank or adviser. Despite the fact that the product CoinShares registered and regulated in Sweden, a shopping tool called Bitcoin Tracker One (CXBTF) is now added in US dollars.
Thanks to this innovation for investors interested in direct investment in Bitcoin, you can enter this market.
“Now the access to this product, open in US dollars. Earlier ETN was only available for a Euro or Swedish Krona. Given the situation with the legal regulation in America, it’s a big win for Bitcoin,” commented Ryan Radloff (Ryan Radloff), CEO CoinShares Holdings Ltd.
Thomas Lee (Thomas Lee), co-founder of Fundstrat Global, has tweeted that CoinShares buys BTC with each issue of shares. This means that exchange-traded note ETN ETF works similarly, despite the differences in structure.
@CoinSharesCo buys #BTC with each share issuance, which means this ETN functions similarly to an ETF despite differences in structure. See excerpt from their Factsheet… Hence, as shares rise/AUM grows, $CXBTF is buying Bitcoin. pic.twitter.com/pjv7COUDoh
— Thomas Lee (@fundstrat) August 15, 2018
ETN was added on the Stockholm stock exchange in 2015 for European investors. The note is offered through Swedish subsidiary CoinShares — XBT Provider AB, which buys Bitcoin on behalf of their clients. ETN has attracted more than $1 billion.
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