Gibraltar Stock Exchange has announced the introduction of a new Bitcoin backed security into its list of trading instruments. BitcoinETI, with the assigned ticker BTCETI is an asset-backed Exchange Traded Instrument created by Argentarius ETI Management and invested exclusively in Bitcoin.
In order to include the new asset, Gibraltar Stock Exchange has partnered with Argentarius ETI Management, a well-known entity offering flexible European securitization solutions to investment managers. The new BitcoinETI exchange traded instrument is designed to allow mainstream investors to invest in the digital currency from within the secure regulated boundaries of an established exchange.
In a statement, the CEO of Argentarius Group Andreas Woelfl has explained the BitcoinETI as,
“An Exchange Traded Instrument is a stock exchange traded security that is backed by an underlying asset or a basket of assets and delivers the delta one performance of the underlying. European sophisticated investors such as asset managers, pension funds, and private bankers have now the possibility to capture the performance of Bitcoin through an EU stock exchange”.
With the Gibraltar Stock Exchange approving the inclusion of BitcoinETI, it has now become the first regulated digital currency backed product in the European stock market.
Bitcoin and other digital currencies are known