— Eric Balchunas (@EricBalchunas) November 30, 2017
Why is the popularity of Swedish Bitcoin ETN rising?
XBT Provider, the Bitcoin ETN listed on Nordic Nasdaq, a major Swedish stock exchange, is currently one of the three methods of investing in Bitcoin through a strictly regulated market, apart from Grayscale Investment’s Bitcoin Investment Fund (GBTC) and LedgerX’s US Commodities and Futures Trading Commission (CFTC)-approved Bitcoin derivatives, options and futures exchange.
Earlier this year, billionaire investor and the owner of NBA’s Dallas Mavericks Mark Cuban revealed at the Vanity Fair New Establishment Summit in Los Angeles that he officially invested in Bitcoin through XBT Provider in Sweden.
“It is interesting because there are a lot of assets which their value is just based on supply and demand. Most stocks, there is no intrinsic value because you have no true ownership rights and no voting rights. You just have the ability to buy and sell those stocks. Bitcoin is the same thing. Its value is based on supply demand. I have bought some through an ETN based on a Swedish exchange,” said Cuban.
In September, immediately after JPMorgan CEO Jamie Dimon offered baseless condemnation on Bitcoin, it was revealed that JPMorgan Securities traded Bitcoin on behalf of its clients through custodian accounts on the Nordic Nasdaq, using the XBT Provider Bitcoin ETN…