Jersey-based item manager acquires Swedish issuer of bitcoin ETN

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NEW YORK Asset government organisation Global Advisors (Jersey) Limited pronounced on Tuesday it has acquired XBT Provider, a Swedish publicly-listed association that launched a world’s initial bitcoin-backed sell traded note.

Global Advisors’ co-founder Daniel Masters declined to divulge a terms of a acquisition, though pronounced a association has taken over XBT’s dual ETN products called Bitcoin Tracker One and Bitcoin Tracker Euro.

Both ETNs are permitted on a NASDAQ/OMX in Stockholm and are permitted in 179 countries.

“It can be tough for some investors to entrance a bitcoin market,” pronounced Masters in an talk with Reuters on Tuesday. “This gives one-click entrance to bitcoin by anyone on an electronic trade height that can entrance Nasdaq’s tellurian marketplace.”

Global Advisors is formed on a Island of Jersey, a largest of a Channel Islands and a self-governing British Crown dependency.

An ETN is a debt confidence with a majority date, corroborated by a credit of a issuer. It’s designed to yield investors entrance to a earnings of a marketplace benchmark.

The merger came after a KnC, a Swedish bitcoin miner, filed for failure about dual weeks ago,

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