U.S. Investors Can Now Buy a Bitcoin Exchange-Traded Note
A Crypto ETF Through the Back Door?
American investors can now invest in bitcoin Exchange Traded Funds (ETF) through an Exchange-Traded Note (ETN) called Bitcoin Tracker One on the Nasdaq Stockholm Exchange in Sweden, per a Bloomberg report. The product, which started trading in 2015, is currently available to American investors despite being listed and regulated under Swedish law after being listed in U.S. Dollars for the first time on Wednesday, August 15, 2018. For several months, investors have eagerly awaited approval from the SEC and CFTC to trade ETF products proposed by CBOE Global Markets, the Winklevoss Twins, SolidX Partners and VanEck Associates, among others. Each of these proposals has either been refused out of hand or delayed to a future date for a concrete decision.Crypto ETFs potentially allow investors to trade crypto without holding crypto assets because they are cash settled. For potential crypto investors who do not want to actually buy crypto assets, the regulatory delay in the U.S. has effectively prevented them from getting into the market.
