Europe has welcomed its first regulated Bitcoin exchange-traded instrument (ETI) with BitcoinETI listing on the Gibraltar Stock Exchange.
Exchange-traded instruments are exchange traded securities which allow simple and transparent participation in the performance of an underlying instrument, and in the case of BitcoinETI that underlying instrument is bitcoin.
ETI’s differ from Exchange Traded Funds (ETF’s) in that they are completely free to choose the underlying asset and make use of it by issuing securities linked to alternative investments, something ETFs are not allowed to track according to ETI Securities.
The new BitcoinETI has been issued by iStructure PCC PLC in a joint venture between the Gibraltar government and the territory’s financial regulator along with developers Argentarius ETI Management Limited and iStructure PCC PLC subsidiary Revoltura Ltd.
Coinbase, Inc. is acting as the ETI’s bitcoin custodian.
The ETI is open to sophisticated investors only with a minimum order size of