The XBT Provider instruments Bitcoin Tracker One (Ticker: COINXBT) and Bitcoin Tracker EUR (Ticker: COINXBE) have resumed trading in Stockholm after Nasdaq approved Global Advisors (Jersey) Limited as the new guarantor of the Exchange Traded Certificates (ETC) with XBT Group becoming a subsidiary of GAJL after its main stockholder, Bitcoin miner firm KnC Miner, declared bankruptcy.
Trading of the company’s two instruments was halted by Nasdaq Nordic on May 27. During the two-week absence of the instruments, Bitcoin prices had risen by around $200.
Following the bankruptcy of KnC Miner, XBT Provider had limited time with Nasdaq to find a new parent before the products were delisted permanently. Now, however, with the Global Advisors acquisition of XBT, the combined group will continue to offer the publicly-traded bitcoin product.
“Global will also bring all the best practices learned via GABI to XBT and share resources in an efficient way,” Daniel Masters, co-founder and director of Global Advisors, told Bitcoin Magazine .
After 30-year careers in mainstream commodities and as managers of the Global Advisors Commodity Investment Fund and the Global Advisors Commodity Systematic Fund, the principals see opportunity in Bitcoin as an emerging commodity and currency and believe that Bitcoin will change the world.
“In concert with what the firm achieved in commodities, we will follow the same pattern [by] explaining the investment thesis behind Bitcoin, providing a team with appropriate expertise and a series of vehicles fit for purpose,” Masters said. “Global Advisors Bitcoin Investment Fund (GABI) is the only fully regulated Bitcoin investment fund targeting institutions and in adding XBT we are addressing the online retail and professional markets.”
He further added that by using interfaces such as Interactive Brokers, Bitcoin exposure via XBT can be accessed in a single click in 179 countries.
However, despite the fact that the XBT Group was the first […]
