Traders are now able to gain exposure to digital currency Bitcoin through an exchange traded product that has listed on the Gibraltar Stock Exchange and Deutsche Boerse.
The Bitcoin Exchange Traded Instrument (BitcoinETI) is the brainchild of a Gibraltarian investment consortium, which included specialist ‘disruptive’ investment group Revoltura. It will trade under the symbol BTCETI.
Revoltura offers disruptive investment products, which can be passported into other European countries.
BitCoinETI is issued by iStructure PCC – the parent organisation of Revoltura and the exchange-traded product is Euro-denominated.
Ransu Salovaara, chief executive officer of Revoltura, said listing the exchange-traded product on the Gibraltar Stock Exchange would offer the reassurance of transparency and liquidity.
He explained: “BitcoinETI is available through regulated brokerage firms across Europe and settlements are handled through Clearstream/Euroclear, just like any other securities.”
In a statement announcing the launch, the GSX said it is part of a series of initiatives to establish Gibraltar as a virtual currency hub.
Nick Cowan, managing director of the Gibraltar Stock Exchange, said: “We are proud to welcome BitcoinETI, Europe's first publicly-traded Bitcoin investment vehicle, to GSX.”
The structurer and arranger of the product is Argentarius ETI Management. The company’s CEO, added: “European sophisticated investors such as asset managers, pension funds, and private bankers have now the possibility to capture the performance of Bitcoin through an EU stock exchange.”