A different and alternative Bitcoin exchange fund listed on the Nasdaq Stockholm exchange has now shifted their focus towards U.S. investors.
A big number of U.S. investors are eagerly awaiting for the day when Bitcoin exchange traded fund (ETF) will be finally approved by the regulators. This different kind of fund better known as a soft alternative has been already trading on the Swedish exchange since 2015. Whats new about it is that now it has being quoted in dollars under the ticker CXBTF.
This new product is called Bitcoin Tracker One which is listed an traded in Sweden although many people think that this is the last step when it comes to implementing it for U.S. investors.
Ryan Radloff, the CoinShares Holding’s CEO has stated:
“Everyone that’s investing in dollars can now get exposure to these products, whereas before, they were only available in euros or Swedish krona. Given the current climate on the regulatory front in the U.S., this is a big win for Bitcoin.”
Bitcoin Tracker One is “similar to buying an American depositary receipt, in that traders will see a foreign-listed asset in U.S. dollars.” In order for this to happen investors will be buying a so called F shares which will mean that the ETN trades will be executed in dollars, and on the other hand all of the settlements, clearings and custody will take place only in the Swedish market.