Denmark's Saxo Bank is the latest to jump on the Bitcoin mania band-wagon making Bitcoin exchange traded notes (ETN) available to its investors.
Saxo Bank has added two ETNs to its offering available to clients who can now gain exposure to Bitcoin. The ETNs designed to track the movement of Bitcoin against the U.S. dollar. 'Bitcoin Tracker One' is traded in Swedish krona and 'Bitcoin Tracker EURO' is traded in euro . Both ETNs are issued by XBT Provider AB and traded on Nasdaq OMX (Stockholm).
"We have been following the development in cryptocurrencies closely and our Saxo Strategy Team has monitored and commented on the rapid development," said Claus Nielsen, head of markets at Saxo Bank. "We have now added two new listed instruments on the Saxo Bank platform that tracks the movement of Bitcoin and we will look into the client appetite as we are developing the future foundation for access to cryptocurrencies in Saxo Bank."
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"This is an exciting time for both Danish investors and the Bitcoin community to have easy and reliable access to the performance of bitcoin via the Bitcoin ETN," said Laurent Kssis, ETF trading consultant and interim managing director of XBT Provider.