Bitcoin Begins Trading on NASDAQ Stockholm

[Paleus]

Read the full article.

The world’s first bitcoin security began trading live on the NASDAQ Stockholm exchange Monday. The Bitcoin Tracker One is an Exchange Traded Note (ETN) which allows traders to invest in bitcoin and acquire returns in USD.

Sweden’s financial authority, Finansinspektionen, granted the launch of the bitcoin ETN last month to Stockholm-based firm XBT Provider.

Alexander Marsh, CEO of XBT Provider told Bloomberg at the time:

“We are proud to offer the world’s first ‘Bitcoin tracker’ to be traded on a regulated exchange. 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.”

[Amph]

oh finally something that should shut up the mouth of countless trolls out there, i expect something like this to trigger the next raise, and change most bearish in bullish ready to bring bitcoin to the next level, the level it deserve

anyway it's obvious that only the big, with their big investments can place bitcoin on the pedestal

[MrDjAK]

This is great news!

[SpanishSoldier]

Does anyone know how many botcoins are being traded over here as ETN ?

[jbrnt]

What's happen to the Winklevoss' ETF? Other ETNs are beginning to sprout on exchanges, but there's no news on the most trumped up ETF.

[QuestionAuthority]

oh finally something that should shut up the mouth of countless trolls out there, i expect something like this to trigger the next raise, and change most bearish in bullish ready to bring bitcoin to the next level, the level it deserve

anyway it's obvious that only the big, with their big investments can place bitcoin on the pedestal

Bring it to the next level of speculating? People have been speculating on Bitcoin from the beginning. Now Bitcoin is a more respected pump n dump where they can "acquire returns in USD".

[RitzBitzz]

Does anyone know how many botcoins are being traded over here as ETN ?

It depends on how many people are going to be trading it.

[thebenjamincode]

Finally! it will be a one great leap on Bitcoin
by the way, if i may also add, bitcoin is also exchanged in etoro
its like an online stock market

[Amph]

oh finally something that should shut up the mouth of countless trolls out there, i expect something like this to trigger the next raise, and change most bearish in bullish ready to bring bitcoin to the next level, the level it deserve

anyway it's obvious that only the big, with their big investments can place bitcoin on the pedestal

Bring it to the next level of speculating? People have been speculating on Bitcoin from the beginning. Now Bitcoin is a more respected pump n dump where they can "acquire returns in USD".

well speculating will be always there no matter the situation around it, but for next level i was referring at building a new solid floor, for the price

the price has the same value as the adoption, it need to raise

[louise123]

This is definitely good news.
Let's hope it doesn't take long for other countries to follow example.

[QuestionAuthority]

oh finally something that should shut up the mouth of countless trolls out there, i expect something like this to trigger the next raise, and change most bearish in bullish ready to bring bitcoin to the next level, the level it deserve

anyway it's obvious that only the big, with their big investments can place bitcoin on the pedestal

Bring it to the next level of speculating? People have been speculating on Bitcoin from the beginning. Now Bitcoin is a more respected pump n dump where they can "acquire returns in USD".

well speculating will be always there no matter the situation around it, but for next level i was referring at building a new solid floor, for the price

the price has the same value as the adoption, it need to raise

Yeah, I guess I can see this as good news for short term speculators that want a quick buck. It could cause problems for price stability that effects adoption. The BitPay type businesses can continue to promise a set price for business exchanges but getting them to hold on to the coins will be more difficult if the price is fluxing $250 a day. 

[trafficolaa]

that kind of great news is a great sign of bright future of bitcoin, that is really awesome to get bitcoin on Nasdaq that is just beginning of new era to go to the mainstream and get notified from big investors to take it as serious investment in bright future.

[johnyj]

knc is selling their coins

[fryarminer]

What's happen to the Winklevoss' ETF? Other ETNs are beginning to sprout on exchanges, but there's no news on the most trumped up ETF.

Poor guys. Coinbase beat them to the launch of Gemini, and now they've been beaten to the launch of their ETF. You snooze you lose.

[gentlemand]

Poor guys. Coinbase beat them to the launch of Gemini, and now they've been beaten to the launch of their ETF. You snooze you lose.

It's a different beast, though similar in spirit. The ETF actually holds the asset. The ETN is just a credit note whose value depends on the entity that issued it.

I know where I'd rather be sticking my money.

[SpanishSoldier]

Does anyone know how many bitcoins are being traded over here as ETN ?

It depends on how many people are going to be trading it.

Are you sure ? So, is it different from an ETF ?

[gentlemand]

So, is it different from an ETF ?

Yes. An ETN is a credit note, not something backed by the actual commodity like the ETF would be (theoretically.)

With an ETF you're buying actual bitcoins in a wrapper. With the ETN all you're buying is a promise from KNCminer. If KNCminer fails then bang goes the ETN too.

[dothebeats]

I guess another opportunity for the shorters to gain some more quick money from trading. Btw, what happened to the Winklevoss twins? Haven't heard of them again and the ETF.

[SpanishSoldier]

So, is it different from an ETF ?

Yes. An ETN is a credit note, not something backed by the actual commodity like the ETF would be (theoretically.)

With an ETF you're buying actual bitcoins in a wrapper. With the ETN all you're buying is a promise from KNCminer. If KNCminer fails then bang goes the ETN too.

Oops... then ETN is dangerous. KNC already failed in their cloud mining contract (though some people claim that the failure was according to their ToS).

Does anyone know how many bitcoins will be traded by the proposed Winklevoss ETF and how Winklevoss will make profit out of it ?

[Alley]

Doesnt knc have to hold bitcoin for the notes?  What if btc triples in value and people cash out?  How would knc pay?  I doubt they can just issue notes on nasdaq without backing.