Posted on June 15th, 2017 by Fitch
STOCKHOLM, JUNE 15, 2017 — In a sign of rapidly escalating demand for bitcoin as a portfolio allocation, Europe’s only exchange traded bitcoin note, issued by XBT Provider AB, surpassed $100MM in assets under management and is announcing custodial partnerships with Xapo, the world’s most respected cryptocurrency custodian.
As a result of the partnership, bitcoin held in cold storage on behalf of investors in XBT Provider’s ETN will now be secured by the most respected name in bitcoin security.
“The team of professionals at XBT Provider has deep expertise in digital currency and extensive experience in financial services. We are excited to partner with them as they make bitcoin broadly available to investors outside of the U.S.,” said Wences Casares, CEO of Xapo.
“In the last 60 days, XBT Provider’s exchange traded bitcoin note has experienced unprecedented volume in trading and demand from both retail and institutional investors searching for exposure to bitcoin. This trend has quickly doubled assets under management to over the $100 Million threshold,” says Jean-Marie Mognetti, Head of Trading and Operations at XBT Provider.
XBT Provider, which witnessed total assets under management double in the last 60 days and nearly triple in the last 6 months, is reiterating their constant commitment to security and transparency with this critical partnership.
“The addition of Xapo to our infrastructure is a critical step in ensuring that our products remain the most professional bitcoin investment products available to investors, globally,” says Ryan Radloff, Head of Investor Relations at XBT Provider.
This news comes on the heels of last month’s announcement that the U.K.’s largest broker listed Europe’s only bitcoin ETN on its digital platform; and is part of a recent string of positive developments in bitcoin, internationally.
About XBT Provider
XBT Provider is the Swedish Domiciled Issuer of Bitcoin Tracker One and Bitcoin Tracker Euro (COINXBT:SS, COINXBE:SS, respectively). With these instruments, anyone can invest in Bitcoin as ETNs, exchange-traded notes. Both trackers are designed to mirror the return of the underlying asset, bitcoin, in Swedish Kronor and Euro respectively. In 2015, Bitcoin Tracker One became the first bitcoin-based security available on a regulated exchange when it listed on NASDAQ/OMX in Stockholm. Both notes are available in 179 countries and traded in the same manner as any share or instrument listed on the Nasdaq exchange in Stockholm. XBT Provider's prospectus is approved by the Swedish FSA (Finansinspektionen) and our products are listed on Nasdaq Nordic in Stockholm. XBT Provider AB is not a licensed financial advisor. The views presented in this release are the opinions of XBT Provider AB. Bitcoin is a volatile instrument and prices can move quickly. XBT Provider AB is not responsible for any financial losses incurred directly or indirectly by the recipient.
It is each investor’s responsibility to ascertain that it is authorised to subscribe, or invest into the product detailed in this press release. Prior to investing in the product, investors should seek independent financial, tax, accounting and legal advice. XBT Provider AB recommends that investors read carefully the “risk factors” section of the prospectus. There is no guarantee that the objective of any Certificates will be met and may not always be able to replicate exactly the performance of the underlying assets. XBT Provider AB shall not assume any responsibility in this respect. The accuracy, completeness or relevance of the information which has been drawn from external sources is not guaranteed although it is drawn from sources reasonably believed to be reliable. Subject to any applicable law XBT Provider AB shall not assume any liability in this respect. This press release together with the prospectus and/or more generally any information or documents with respect to or in connection with the XBT Provider AB certificates detailed herein does not constitute an offer for sale or solicitation of an offer for sale in any jurisdiction (i) in which such offer or solicitation is not authorized, (ii) in which the person making such offer or solicitation is not qualified to do so, or (iii) to any person to whom it is unlawful to make such offer or solicitation. In addition, the shares are not registered under the U.S Securities Act of 1933 and may not be directly or indirectly offered or sold in the United States (including its territories or possessions) or to or for the benefit of a U.S Person (being a “United State Person” within the meaning of Regulation S under the Securities Act of 1933 of the United States, as amended, and/or any person not included in the definition of “Non-United States Person” within the meaning of Section 4.7 (a) (1) (iv) of the rules of the U.S. Commodity Futures Trading Commission.). No U.S federal or state securities commission has reviewed or approved this document and more generally any person not included in the definition of “Non-United States Person” within the meaning of Section 4.7 (a) (1) (iv) of the rules of the U.S. Commodity Futures Trading Commission.). Indicative net asset value is published on the Reuters and Bloomberg pages of the products, and might also be mentioned on the websites of the stock exchanges where the product is listed.