The message on a first ETF (Exchange Traded Fund) for the digital currency Bitcoin has spread quickly. But in fact, it is an ETN (Exchange Traded Note).
About the sustained success of cryptocurrency Bitcoin will decide in addition to their stability, especially the question of their acceptance. The more attentively followed the fan community these days messages that can be interpreted as milestones on the road to success. If you were beginning already happy to be able to purchase coffee with Bitcoin and later buy computer, was last speculated that the NYSE and the Nasdaq are thinking to develop trading systems for this form of currency. Such a move would certainly be regarded as the highest accolade.
Until the realization of plans to celebrate other reaching partial goals. For example, the message that the first “Bitcoin ETF” (Exchange Traded Fund) was launched. On closer inspection, these are an ETN, an exchange-traded note and thus secured a (un-) bond (depending on the configuration). The issuer, the Swedish XBT provider, promises reportedly principle so many Bitcoin reproach, be as represented by the ETN. The “XBT provider AB” (A18KCN), the official name is listed in the Berlin Stock Exchange Tradegate segment. A portion is equal to 0,005 Bitcoin, ie 500 000. Satoshi (fragments of Bitcoin).
By as early as May emitted in Scandinavia ETN Bitcoin friends can watch two important milestones have been reached: they have found an alternative trade route to the Bitcoin exchanges on the internet, to participate in the performance of the virtual currency without them acquire self and keep must; – And perhaps more importantly, they have the ETN found a way to make Bitcoin indirectly in normal securities accounts verwahrfähig.