Nasdaq Stockholm Introduces Bitcoin (BTC) and Ethereum (ETH) Exchange Traded Notes
The number of cryptocurrency exchange products in Europe is still growing. Nasdaq Stockholm has notified that the first two physical asset-backed exchange-traded securities (ETNs) have appeared for trading on the 21Shares trading platform. The two listed financials, with bitcoin (BTC) and ether (ETH) as the main assets, open up a completely different spectrum for ETNs, a type of unsecured debt obligation that reflects an underlying stock index and is traded on major stock exchanges.
According to an official statement, the new ETN will provide investors with the ability to invest in various cryptocurrencies, such as bitcoin and ether. Helena Wedin, global head of European exchange-traded instruments at Nasdaq, noted that traded exchange-traded securities allow for investments in unusual assets while providing the necessary percentage transparency in a controlled market. In addition, she pointed out that the company is excited to launch this new sector on Nasdaq Stockholm with 21Shares as the first exchange.
Numerous commercial entities are making it possible for investors to transact with all ETNs listed on the Nasdaq Stockholm exchange, according to a press release. This opens up great prospects for those investors looking to invest in cryptocurrencies, but the idea of doing so on unregulated exchanges does not suit them. Over the past year, the value of the cryptocurrency market has increased rapidly. However, given the decline in prices, demand for cryptocurrencies is still high. Perhaps the main reason for this continued demand is the increased investment by international organizations in the cryptocurrency market. As institutional investment in cryptocurrencies increases, we will see the proliferation of assets such as ETNs on regulated exchanges. As Cointelegraph wrote in September, VanEck launched ETNs Solana (SOL) and Polkadot (DOT) on Xetra Deutsche Boerse.
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