Nasdaq Stockholm has announced that 21Shares has listed their first two physically backed exchange-tred notes (ETNs) on the Swedish tring platform.
The two instruments listed, with Bitcoin (BTC) and Ether (ETH) as underlying assets, represent a new segment for ETNs — a type of unsecured debt security that tracks an underlying index of equities and tres on a major exchange.
According to the announcement, the new ETNs will provide investors access to investment opportunities in cryptocurrencies such as Bitcoin and Ether.
Helena Wedin, European he of exchange tred products at Nasdaq, says that exchange-tred notes allow one to invest in non-tritional assets while maintaining the transparency of a regulated market. She ds that “we are happy to launch this new segment at Nasdaq Stockholm with 21Shares as the first issuer.”
According to the press release, most tritional banks and brokers allow investors to tre all ETNs listed on Nasdaq Stockholm. This is a first which opens up new possibilities to investors interested in investing in cryptocurrencies, but who are not comfortable doing so on unregulated exchanges.
Related: ETN vs. ETF: Which Is the Investor’s Dream?
The cryptocurrency market has experienced a steep rise in valuation throughout the previous year. Despite some recent price dips, interest in cryptocurrencies continues to be high.
One reason for this sustained interest may be the possibility of increased institutional investment in the market. As institutional investment in cryptocurrencies increases, we’ll likely see more products such as ETNs being listed on regulated exchanges. As reported by Cointelegraph in September, VanEck introduced Solana and Polkot ETNs on Deutsche Boerse’s Xetra.
META ARTICLE: Nasdaq Stockholm lists Bitcoin and Ether exchange-tred notes PUBLISHED: 2021-12-07 09:48:08 SOURCE: https://cointelegraph.com/news/nasdaq-stockholm-lists-bitcoin-and-ether-exchange-tred-notes