Global Advisors Takes Over XBT Bitcoin Tracker After KnC Collapse

Stockholm based firm XBT Provider has announced its Bitcoin Tracker One (Ticker: COINXBT) and Bitcoin Tracker EUR (Ticker: COINXBE) resumed trading at Nasdaq Nordic. Last month the Swedish firm had to suspend its ETCs (Exchange Traded Certificates) after their guarantor and its main stockholder – the bitcoin mining firm KnCMiner – went bust.

The announcement came after the exchange has approved the new guarantor of the instruments, Global Advisors (Jersey) Limited (GAJL). The asset management firm, which offers “institutional-grade bitcoin investment strategy” has took over XBT Provider as all of KnCMiner’s holdings are being sold as a result of its bankruptcy.

Johan Wattenström, CEO and co-founder of the XBT Group said: “We would like to thank Nasdaq and Global Advisors for their hard work and commitment to achieving a fast resolution. We have been very satisfied cooperating with all involved parties and are looking forward to a long-term partnership. As part of Global Advisors, we now have the capabilities and means to accelerate the expansion of our business and provide investors with a broad range of products and services for safe and easy exposure to bitcoin markets.”

Daniel Masters, Co-Founder and Director of GAJL added: “We believe bitcoin will change the world. Acquiring control of XBT Group is a unique opportunity to increment our strategy of creating access to bitcoin as an asset class. XBT’s products offer one-click, delta-one exposure to bitcoin via a wide range of electronic trading platforms. We look forward to sharing with XBT the benefits our best-practices and experience managing the Global Advisors Bitcoin Investment Fund.” – leading Bitcoin News source since 2012