U.S. Investors Can Now Trade Bitcoin ETN On Swedish Exchange

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U.S. Investors Can Now Trade Bitcoin ETN On Swedish Exchange

Even while the country’s regulatory authorities deliberate on bitcoin ETFs, US investors interested in similar products now have the option of trading in bitcoin ETNs listed on Nasdaq Sweden. (For more information, see Americans Can Now Trade A Swedish Bitcoin ETN.)

The Bitcoin Tracker One, which is listed on the Swedish market, is now accessible to US investors as an American Depository Receipt (ADR).(See also: American Depository Receipt Basics.) It debuted on May 18, 2015, with a leverage ratio of 1:1. Leveraged ETNs monitor an underlying index, futures contract, or commodity price. The Swedish FSA has authorized the ETN, which keeps bitcoin in custody with certificates guaranteed by Global Advisors (Jersey) Limited.

“Previously, these products were exclusively accessible in euros or Swedish krona, but now anybody investing in dollars may receive exposure to them.” Given the present regulatory environment in the United States, this is a significant victory for bitcoin,” stated Ryan Radloff, CEO of CoinShares Company. (For further information, see Traditional Stock and Forex Brokers That Accept Crypto Trading.)

Regulatory Bottlenecks for Bitcoin ETFs

Bitcoin ETFs have had a difficult time. For the last several years, the SEC has rejected petitions for bitcoin ETFs. The government expressed its worries about bitcoin ETFs in the first half of this year. These worries vary widely and include anything from a lack of control at cryptocurrency exchanges to bitcoin custody issues. (Also see: Why Is the SEC Wary of Bitcoin ETFs?)

Meanwhile, bitcoin has steadily garnered general acceptance among investors. Despite its novelty and regulatory issues, bitcoin has grown in popularity among institutional investors. Goldman Sachs, for example, has made noteworthy cryptocurrency recruits and is apparently launching a bitcoin trading desk.

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Currently, the only crypto-related ETF trading on the OTC markets is Bitcoin Investment Trust (GBTC). The ETF, which follows the price of bitcoin, has had a tumultuous year, falling by 65% as of this writing. As of this writing, Bitcoin Tracker One is down 50.84%.

Investing in cryptocurrencies and other Initial Coin Offerings (“ICOs”) is very dangerous and speculative, and this article is not a suggestion by Investopedia or the author to do so. Because every person’s circumstance is different, a knowledgeable specialist should always be contacted before making any financial choices. Investopedia makes no guarantees or warranties about the accuracy or timeliness of the information provided on this site.

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