STOCKHOLM, Sweden., May. 30, 2016 -- Trading on XBT Provider’s bitcoin ETNs, Bitcoin Tracker One and Bitcoin Tracker EUR, will be halted pending approval of a new guarantor
XBT Provider is currently in discussion with multiple interested parties and is planning to present a new guarantor to Nasdaq as soon as an agreement has been reached
The reason for the trading halt is the bankruptcy of KnC Group AB, XBT Provider’s former guarantor. That event does not, however, in any way affect investor assets, since the notes are always fully hedged by holding the underlying (bitcoins) in secure storage.
XBT Provider is working hard in order to resume trading in the instruments on Nasdaq Nordic and will keep the markets informed on any developments.The value of the instruments can be followed on our web-page xbtprovider.com.
If there will be no quick resolution, XBT Provider will offer a redemption program for investors to accommodate those wishing to exit the instrument before a new guarantor is in place.
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, and exposure to blockchain technology. XBT provider is at all times fully hedged, and always hold bitcoins equivalent to the value of ETNs issued. XBT Provider's prospectus is approved by the Swedish FSA (Finansinspektionen) and is issued for trading on Nasdaq Nordic.
The full prospectus, as well as the audited annual report, is available on xbtprovider.com
ABOUT THE ISSUER: XBT PROVIDER
XBT Provider AB (publ) is a public limited liability company formed in Sweden with statutory seat in Stockholm. The issuer is incorporated under Swedish law and registered with the Swedish companies' registration office under registration number 559001-3313.
ABOUT THE MARKET MAKER: MANGOLD FONDKOMMISSION
Mangold Fondkommission is a Stockholm based brokerage and Investment bank. As a member of Nasdaq Stockholm, the company assists XBT Provider with clearing services and acts as a liquidity provider for Bitcoin Tracker One and Bitcoin Tracker EUR.