XBT Provider has announced Ether is now available via two exchange-traded notes (ETN), which track its price and can be traded on Nasdaq Stockholm exchange. The notes are denominated in Swedish krona and Euro.
Practically, this mean investors can buy Ether via a broker rather than via exchanges. The exchange-traded notes will track the price of ether, as determined by an index rate comprising the average of the three most liquid of chosen exchanges where the currency trades
XBT Provider was acquired by Jersey-based CoinShares last month, which have had a similar investment vehicle for bitcoin since 2015.
This could eventually lead to the creating of an approved exchange-traded fund, or ETF. An ETN is an unsecured debt security, unlike an ETF, which holds the asset it tracks.
Helena Wedin, head of ETP Services for Europe at Nasdaq, stated that “while it is important to acknowledge that exposure to an asset in its early stage of development, such as a digital currency, comes with a risk, trading Ether on Nasdaq Stockholm provides investors with the protection provided by a regulated infrastructure, well-known marketplace and accessibility through their ordinary brokers.”