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Dec 7, 2021
by Usha Yadav
Bitcoin and Ether Exchange Trade Notes get Listed on Nasdaq Stockholm
21 Shares has listed its first two physically backed exchange-traded notes (ETNs) on Nasdaq Stockholm, according to the Swedish trading platform. As 2022 approaches, the number of crypto-based exchange-traded products in Europe continues to rise. The two instruments described represent a new sector for ETNs. These unsecured debt securities track an underlying index of equities and trade on a major exchange and have Bitcoin (BTC) and Ether (ETH) as underlying assets. The new ETNs, according to the statement, will give investors access to cryptocurrency investment opportunities such as Bitcoin and Ether.
Nasdaq Stockholm with 21 Shares as the First Issuer
According to Helena Wedin, Nasdaq's European head of exchange-traded products, exchange-traded notes allow investors to invest in non-traditional assets while keeping the transparency of a regulated market. "We are pleased to debut this new sector at Nasdaq Stockholm with 21 Shares as of the first issuer," she continues.
According to the news release, most traditional banks and brokers allow investors to trade all ETNs listed on Nasdaq Stockholm. This is a first, opening up new options for those who want to engage in cryptocurrencies but are hesitant to do so on unregulated exchanges.
Cryptocurrency Market has Experienced a Steep Rise
Throughout the preceding year, the cryptocurrency market saw a significant increase in value. Despite recent price drops, there is still a lot of interest in cryptocurrencies.
The likelihood of more institutional participation in the market could be one explanation for the ongoing interest. As institutional interest in cryptocurrency grows, more products like ETNs will likely be offered on regulated exchanges.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.