Bitcoin-based ETN approved by Sweden's Nasdaq Exchange

The Bitcoin Tracker One, a bitcoin-based exchange traded note (ETN), has been approved by Sweden's Nasdaq exchange, making way for investment in bitcoin to those who do not want to directly purchase and hold the digital currency.

It is being launched by Stockholm-based XBT Provider AB, which is owned by the KnC Group and is expected to go live on 18th of next month.

"By enabling this easy and secure way to invest in bitcoin we hope to have eliminated the boundaries that earlier prevented individuals and companies from being able to actively invest in what we believe to be the future of money", said Alexander Marsh, chief executive officer of XBT Provider AB.

A Nasdaq spokesperson confirmed the news of approval of XBT Provider AB as a certificate issuer, marking the first bitcoin-based item to be listed on the Swedish exchange.