Today Stockholm-based XBT Provider AB (publ) announced the launch of Bitcoin Tracker EUR, a bitcoin-based security pegged to the Euro. The Bitcoin Tracker EUR security will become available for trading on Nasdaq Nordic (Nasdaq OMX Nordiq) on October5 of this year.

XBT Provider, a subsidiary of KnC Group, a large Bitcoin miner and mining hardware provider, already has a Bitcoin-based securities product called Bitcoin One that launched as the world’s first ETN (Exchange Traded Note) named Bitcoin Tracker One. This ETN is also traded on Nasdaq Nordic in SEK (Swedish Kronas) weighted against Bitcoin/USD (U.S. Dollar) price matching several exchanges.

Bitcoin Tracker EUR, as mentioned above, adds a Euro-denominated tracker to the USD-denominated tracker. ETNs allow investors to invest in a particular security without the need of owning or trading directly in the underlying asset. Instead the ETN pegs itself to the underlying asset and provides returns from the underlying assets (less investor fees) in this case bitcoins traded on bitcoin markets.

“We are proud to offer a Euro-denominated instrument to meet demand from investors world-wide,” says Alexander Marsh, Chief Executive Officer of XBT Provider. “Bitcoin Tracker One has during periods been among the top 3 most traded ETNs on Nasdaq Nordic since launch. With Bitcoin Tracker EUR we hope to further eliminate the boundaries that earlier prevented individuals and companies from being able to actively invest in what we believe will be the future of money.”

Nasdaq Nordic covers Nasdaq exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Riga, Tallinn and Vilnius.

Bitcoin and its expanding applications in the securities and finance industry

Bitcoin Tracker One is tracked already by Bloomberg’s tracker terminals under COINXBT.

Bitcoin has slowly been adopted by the securities trading industry in various ways, including as a financial and securities instrument (as ETN above) and by market trackers. For example, other trackers have also begun to include Bitcoin itself as a trackable asset such as the New York Stock Exchange (NYSE) as part of its Global Index Feed under NYXBT. And Overstock.com, Inc. in June announced the launch of TØ.com, a platform intended to trade in a $25 million bond that utilizes Bitcoin technology.

The prospectus for the Bitcoin Tracker EUR security [PDF] is available at XBT Provider’s website and notes that the prospectus has been approved by Sweden’s financial supervisory authority, Finansinspektionen.

The October 5th, 2015 launch date of the Bitcoin Tracker EUR security will open up a new audience within Europe and the Nasdaq Nordic region for investments to be made with bitcoins.

In 2015, Bitcoin has seen increased trading volumes peaking near 17 million bitcoins and $16 million USD in March and hovering around the $240 – $260 USD per BTC mark for the past six months (with a brief inflation to near $300). XBT Provider hopes that the continued market shifts will provide a solid foundation for investors to see returns.

featured image credit: btckeychain via photopin cc