Sweden's Nasdaq Exchange Approves Bitcoin-based ETN

[galdur]

Sweden's Nasdaq exchange has approved a bitcoin-based exchange traded note (ETN), opening up investment in the digital currency to those who do not want to directly purchase and hold bitcoins.

The Bitcoin Tracker One, launched by Stockholm-based XBT Provider AB, which is owned by the KnC Group and is expected to launch on 18th May.

In a statement, Alexander Marsh, chief executive officer of XBT Provider AB, said:

"By enabling this easy and secure way to invest in bitcoin we hope to have eliminated the boundaries that earlier prevented individuals and companies from being able to actively invest in what we believe to be the future of money."

http://www.coindesk.com/swedens-nasdaq-exchange-approves-bitcoin-based-etn/

[spartacusrex]

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What's the difference between an ETF and an ETN ?

[Amph]

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What's the difference between an ETF and an ETN ?

How Are They different?
In practice, the two are very similar. Both are designed to track an underlying asset, both often have lower expense ratios than actively managed mutual funds, and both trade on the major exchanges just like stock.

The main difference is under the hood. When you invest in an ETF, you are investing into a fund that holds the asset it tracks. That asset may be stocks, bonds, gold or other commodities, or futures contracts.

An ETN is more like a bond. It's an unsecured debt note issued by an institution. Just like with a bond, an ETN can be held to maturity, bought or sold at will, and if the underwriter (usually a bank) were to go bankrupt, the investor would risk a total default.

Read more: http://www.investopedia.com/financial-edge/0213/etf-or-etn-whats-the-difference.aspx#ixzz3YoZiijQW
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[Velkro]

Exposure all around world, that is great for Bitcoin.
Im more optimistic reading such things everyday almost

[dhimasnk]

wow, good news nasdaq accept bitcoin. Hopefully, more and more government companies like nasdaq accept BTC