First European-Regulated Bitcoin Product Launched by the Gibraltar Stock Exchange

The Gibraltar Stock Exchange (GSX) announced the launch of BitcoinETI, an asset-backed Exchange Traded Instrument that is invested exclusively in Bitcoin, making it the first European-regulated product for the leading digital currency. The ETI is listed on GSX with the ticker BTCETI and is in the process of also being co-listed on Deutsche Börse in the coming weeks.

“GSX is an E.U.-regulated market which offers efficient and cost-effective solutions for innovative companies and financial products,” said GSX Managing Director Nick Cowan. “We look forward to supporting the BitcoinETI in its entry to the public markets.”

BitcoinETI is issued by iStructure PCC PLC, a Gibraltar-based company, in partnership with Argentarius ETI Management Limited (Listing Member of GSX and securitization specialist), Gibraltar-based fintech specialists Revoltura Limited (an iStructure PCC PLC subsidiary), the government of Gibraltar, and the Financial Services Commission (Gibraltar’s regulator).

“An Exchange Traded Instrument is a stock exchange traded security that is backed by an underlying asset or a basket of assets,” Argentarius CEO Andreas Woelfl said in a statement. “European sophisticated investors such as asset managers, pension funds, and private bankers have now the possibility to capture the performance of Bitcoin

Read more ... source: TheBitcoinNews