Global Advisors acquired XBT Provider after KnC Miner filed for bankruptcy

By June 17, 2016Bitcoin Business

Global Advisors (Jersey) Limited (GAJL) announced on Tuesday that it has acquired Swedish financial company XBT Provider , issuer of Bitcoin Tracker One (Ticker: COINXBT ) and Bitcoin Tracker EUR (Ticker: COINXBE ), listed on Nasdaq Nordic. GAJL also became XBT Provider’s new guarantor, ensuring its loans are paid if they have any financial difficulty in the future. The Stockholm-based XBT Provider was the first company to offer a bitcoin Exchange Traded Note (ETN). Trading of the company’s two instruments was halted by Nasdaq Nordic on May 27, following the bankruptcy filing of its former guarantor, KnC Group. Nasdaq approved GAJL as the new guarantor allowing trading of both instruments to resume on Tuesday at Nasdaq Nordic in Stockholm.

– Global Advisors

The two ETNs, Bitcoin Tracker One and Bitcoin Tracker EUR, are “designed to provide investors with convenient and liquid access to the returns of the underlying asset, bitcoin,” according to the company. During the time which trading of XBT Provider instruments was halted, bitcoin prices have risen almost US$200 during the two-week absence. Bitcoin price over the last 30 days – 17th June 2016 When trading resumed , the price of Bitcoin Tracker One jumped from 18.42 to 27.77, up 42.72 percent, while Bitcoin Tracker EUR climbed from 19.98 to close at 30.36, up 43.89 percent. The two instruments became Nasdaq Nordic’s second and third best advancers on Tuesday. in May of last year, offering anyone from anywhere in the world the ability to invest in bitcoin as an Exchange Traded Note. (ETN) The two ETNs began trading "It can be hard for some investors to access the bitcoin market," GAJL CIO Daniel Masters told Reuters on Tuesday. "This gives one-click access to bitcoin by anyone on an electronic trading platform that can access Nasdaq’s global marketplace." Masters is […]

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