XBT Provider adds ether (ETH) Exchange Traded Notes to join bitcoin ETNs

XBT Provider, the issuer of the world’s first bitcoin ETNs and which was recently acquired by CoinShares, announced today they have launched the first ether ETNs available for trading on Nasdaq Stockholm. The two ETNs, COINETH, and COINETHE are denominated in SEK and EUR respectively.

In similar fashion to the group’s bitcoin ETNs, the ether ETNs are structured to track the price of ether, as determined by an index rate comprising of the daily average of the 3 most liquid of a select group of exchanges. The ETNs are traded during normal market hours on Nasdaq Stockholm.

This is the second major cryptocurrency ETN Nasdaq has listed for XBT Provider, noteworthy as this makes Nasdaq Stockholm the only European stock exchange to offer investors exposure to two of the leading crypto-assets (BTC and ETH).

Helena Wedin, Head of Europe ETP Services, Nasdaq

Helena Wedin, Head of ETP Services Europe at Nasdaq said:

“We are happy to be able to provide investors with this new investment opportunity. Given the high interest we have experienced for the previous listings from XBT Provider it is exciting to now expand the offering into this unique exchange traded certificate.”

“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.”

Laurent Kssis MD of XBT Provider by CoinShares said:

“The listing of these two Ether ETNs is a major win for European investors who have been requesting these products for over a year now. As of today, if investors want hassle-free exposure to the price movements of ether, they simply call their broker or trade on their normal brokerage platform – that’s truly remarkable.”

With the addition of ether to the platform, CoinShares represents the most diverse investment product line-up available in exchange-traded cryptocurrency products; and notably, the only way for European investors to add ether exposure to their investment portfolio via a regulated traditional stock exchange.

Daniel Masters, Co-Principal at CoinShares stated:

“We’ve stated before that as a group, CoinShares is committed to delivering world-class research and professional-grade access to crypto-assets. Today marks a critical step in delivering on that mission. This launch is the result of a tremendous amount of hard-work from the CoinShares team, key partners and our counterparts at Nasdaq. We could not be more proud to bring this latest set of pioneering product to the market.”