With the whole world going crazy about the impending Bitcoin price storm, Ethereum enthusiasts also get a reason to celebrate in the form of Ether’s price movement listed for easy follow up via Nasdaq Stockholm. The second biggest cryptocurrency ranked according to market capitalization can now be traded on the Nasdaq through two ETN’s or exchange traded notes.
Laurent Kssis, the MD of XBT Provider by CoinShares which issues crypto ETN’s was quoted as saying:
“ 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 ethereum, 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.”
The dual offerings, one of which is denominated in Euros and the other in Swedish Kronas will be the first for Ethereum which housed no exchange traded options previously. The latest development in the sphere of Nasdaq Stockholm coming two years since Bitcoin ETN’s makes it the first ever exchange offering more than a single cryptocurrency form. These ETN’s of both Ethereum and Bitcoin mark the beginning of brand new investment opportunity as some of these investment platforms hope to become a part of the $154 billion cryptocurrency market.
Helena Wedin, the head of Nasdaq’s ETP Services in Europe recently expressed:
“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 Ethereum on Nasdaq Stockholm provides investors with the protection provided by a regulated infrastructure, well-known marketplace and accessibility through their ordinary brokers.”
Investors can now engage in trading of XBT Provider AB issued Ethereum ETN’s with specific assistance of Saxo Bank multi-asset trading platform. Claus Nielsen, Saxo Bank’s Head of Markets commented:
“ We have increasing client demand for exposure to cryptocurrencies and I am very pleased that we can now offer clients exposure to both Bitcoin and Ethereum through Exchange Traded Notes. Cryptocurrency markets are still at an early development stage and we find that listed products like ETNs without leverage, offering high levels of transparency, are good ways to include cryptocurrencies in our multi-asset product offering spanning more than 35,000 instruments. We continue to follow the developments in cryptocurrency markets and expect to able to add more instruments to our offering going forward.”
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