Crypto News Flash #231: Forget About The Bitcoin ETF's Approval, Bitcoin ETN's Are Already Here
Bitcoin has been going through a very high volatility right now since Bitcoin ETF's proposal got postponed by SEC. The moment SEC delayed ETF's, Bitcoin price tanked by $1000 and still trading under $6500. People were speculating too much on Bitcoin ETF's decision and of course it fired back.
But a solution has arrived which can allow U.S investors to invest in Bitcoin without having to hold them into a digital wallet. Bitcoin ETN's are here.
ETN's are the Exchange Traded Notes and works in very similar way like ETF's except for a few exceptions.
With the help of ETN's, U.S. investors can now invest in Bitcoin's without having to hold their private keys in Digital Wallet. These Bitcoin ETN's are specifically called as Bitcoin Tracker One which are being traded on NASDAQ's Stockholm stock exchange since 2015 and they are listed and regulated in Sweden. The parent company is Coinshares.
The CEO of Coinshares Holding Pvt Ltd. said:
“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.”
So, basically everyone can now invest in Bitcoin by putting Dollars into Bitcoin Tracker One. This reduces the dependency on local crypto exchanges for the buying/selling of Bitcoin.
Now we can assume a good amount of money will flow into Crypto market soon enough. A glimpse of it can now be seen in the market where majority of market is in double-digit green.
Thanks for reading ..!!
