Heads adult digital banking fans: Europe now has a regulated product for cryptocurrency.
The Gibraltar Stock Exchange announced on Monday that it has combined BitcoinETI, an asset-backed Exchange Traded Instrument that exclusively invested in bitcoin—making it a initial European regulated product for digital currency.
The BitcoinETI was authorized for inventory on a GSX final Jul 22, a bourse pronounced in a statement. It will also be co-listed on a Deutsche Boerse this week underneath a ticker “BTCETI.”
So what does this meant for a renouned digital currency?
ETIs are tangible as tradeable assets, such as sell traded securities, that concede a elementary and pure appearance in a opening of an underlying instrument—which, in this case, is a bitcoin.
“GSX is an EU regulated marketplace that offers fit and cost effective solutions for innovative companies and financial products,” pronounced Nick Cowan, handling executive of a Gibraltar Stock Exchange, in a statement.
Gibraltar-based iStructure PCC PLC will