Ethereum Ether Exchange Traded Notes Review – Nasdaq ETH ETN Trading?
It just became easier for investors to gain exposure to Ethereum. Two Exchange Traded Notes (ETNs) are now available for trading on Nasdaq Stockholm.
The ETNs are offered by XBT Provider by CoinShares, which also issued the world’s first bitcoin ETNs. The Ether ETNs track the price of Ether in two different ways, including Ether Tracker One (COINETH:SS) and Ether Tracker Euro (COINETHE:SS).
The first ETN tracks the price of Ether in SEK, while the second tracks it in EUR. The ETNs track the price as determined by an index rate comprising the average of the 3 most liquid of a select group of exchanges on a daily basis. The ETNs can be traded during normal market hours on Nasdaq Stockholm.
“The listing of these two Ether ETNs is a major win for European investors who have been requesting these products for over a year now. As of today, if investors want hassle-free exposure to the price movements of ether, they simply call their broker or trade on their normal brokerage platform – that’s truly remarkable. We are thrilled to be able to deliver on investor demand via a safe, familiar route in Nasdaq,” says Laurent Kssis MD of XBT Provider by CoinShares, as reported in a press release launching the ETNs.
Kssis also emphasized the value of trading on a regulated infrastructure and a well-known marketplace. Investors don’t need any special knowledge of cryptocurrencies to gain exposure to bitcoin or Ethereum. They can purchase the funds just like they would purchase any ordinary investment product.
Nasdaq Stockholm has been a world leader in terms of adopting cryptocurrency ETNs. It’s the only European exchange that offers investors exposure to the two most popular cryptocurrencies in the world.
“Today is a historical moment for Ethereum and ether as an asset; and for the future of crypto-assets. It was a little over two years ago that the bitcoin ETNs began trading – offering investors exposure to bitcoin via an established exchange for the first time. Today, we are able to bring ether to the market and mark another major first. It is important to remember how far and how fast the space has matured in the less than 8 years since this revolution began,” explains Ryan Radloff, Co-Principal at CoinShares.
CoinShares has been called the iShares equivalent of crypto-finance. iShares was one of the first major ETF providers in the world, and allowed investors to easily gain exposure to international marketplaces, national indexes, and more through a basket of securities. Today, CoinShares offers six cryptocurrency investment products.
Although the Ethereum ETNs are only available at Nasdaq Stockholm, it seems likely that more exchanges will offer them in the future – especially if they gain traction among Swedish investors.