A Denmark-based multi-asset and trading institution, Saxo Bank, recently stated they are allowing clients to gain exposure to bitcoin. The bank just added exchange-traded notes for bitcoin.
Saxo bank mentioned that fascination with bitcoin has dramatically increased in 2017. This is primarily because the Asian market, especially China and Japan, has opened up. This means these countries have generated a lot of bitcoin trades.
This also implies investors and speculators want a new way to trade bitcoin without having to directly work with the asset. The fact bitcoin is also seeing higher usage in places like Latin America, Greece, Africa, and elsewhere, may also be spurring various markets into action.
Saxo Makes a Move into Bitcoin ETNs
As a result of all the market activity and bitcoin excitement, Saxo decided to offer exchange traded notes. This fund will provide investors with indirect exposure to bitcoin’s price. A Financefeeds article elaborated:
"In response to this growing interest, Saxo has added two new Exchange Traded Notes (ETNs) to its offering. Saxo clients can now get exposure to Bitcoin through these two new ETNs designed to track the movement of Bitcoin against the US Dollar (BTC/USD)."
One note is referred to as “Bitcoin Tracker One” and is traded in Swedish Krona, and the other note is the “Bitcoin Tracker Euro.” It is traded in Euro. The site details both notes are issued by XBT provider AB, and traded on Nasdaq OMX.
>>> https://news.bitcoin.com/saxo-bank-offers-bitcoin-exchange-traded-notes/
Topic: [2017-08-28] Saxo Bank Offers Bitcoin Exchange Traded Notes (Read 2052 times)
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