The issuer of Europe’s only bitcoin-based exchange-traded notes (ETNs), XBT Provider, on Thursday announced that its assets under management (AUM) have doubled within the last 45 days to $100 million, due to “rapidly escalating” demand from investors. In addition, the Swedish-domiciled company has partnered with leading Bitcoin wallet and custodian Xapo.
Unprecedented Volume and Demand from Investors
Bitcoin.com recently reported on Britain’s largest broker, Hargreaves Lansdown, offering XBT Provider’s products on its investment platform. Bitcoin Tracker One and Bitcoin Tracker Eur, the only ETNs in Europe, are now available to Hargreaves Lansdown’s 876,000 clients.
Following this news, XBT Provider on Thursday announced that its total AUM has grown from $50 million on May 1 to $100 million. In the last 6 months, it has nearly tripled. Jean-Marie Mognetti, Head of Trading and Operations, commented:
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In the last 60 days, XBT Provider’s exchange traded bitcoin note has experienced unprecedented volume in trading and demand from both retail and institutional investors searching for exposure to bitcoin. This trend has quickly doubled assets under management to over the $100 million threshold.
Read more:
https://news.bitcoin.com/bitcoin-etn-demand-investors-partners-xapo/