On Wednesday, XBT Provider by CoinShares announced two of its newly launched ether tracking will exchange traded notes on the NASDAQ Stockholm.
According toXBT Provider, the two ETNs, COINETH, and COINETHE are denominated in SEK and EUR respectively. In similar fashion to the group’s bitcoin ETNs, the ether ETNs are structured to track the price of ether, as determined by an index rate comprising the average of the 3 most liquid of a select group of exchanges, daily. The ETNs are traded during normal market hours on Nasdaq Stockholm. Laurent Kssis MD of XBT Provider, revealed:
“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.”
Helena Wedin, Head of ETP Services Europe at Nasdaq, then stated:
“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.”
It was also revealed that this is the second major crypto-asset ETN Nasdaq has listed for the CoinShares group. Ryan Radloff, Co-Principal at CoinShares, added:
“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.”
