Bitcoin Tracker One, also called XBT Provider, is an exchange-traded note (ETN) that tracks the price of Bitcoin in U.S.
dollars. The ETN is traded on NAsdaq Stockholm under the ticker CXBTF and has been available for trading since 2015.
Bitcoin Tracker One is a regulated product that gives investors exposure to the price movement of Bitcoin without having to buy or store the digital currency. The ETN is backed by physical bitcoins and its issuer, XBT Provider, is a Swedish company that is wholly owned by the UK-based investment firm Global Advisors (Jersey) Limited.
NOTE: WARNING: XBT Bitcoin Tracker is a financial instrument that tracks the price of Bitcoin. It is not an actual cryptocurrency and should not be confused with investing in Bitcoin. Trading in XBT Bitcoin Tracker can be highly risky and may result in significant losses. Investing in XBT Bitcoin Tracker should only be done after careful consideration and research into the risks associated with it.
Bitcoin Tracker One is denominated in Swedish kronor (SEK), and each ETN represents one tenth of a bitcoin. The ETN has a 1% annual fee and is currently available to investors in Europe and the United Kingdom through a number of online brokerages.
Global Advisors (Jersey) Limited first launched its Bitcoin Investment Fund in September 2014, making it one of the earliest institutional investors in cryptocurrency. The fund holds physical bitcoins and uses them to track the performance of the digital currency’s price movements.
The launch of Bitcoin Tracker One gave investors another way to access the returns of the underlying asset without having to go through the process of buying and storing bitcoins themselves. The ETN offers exposure to both the price movements of Bitcoin and changes in its value due to underlying supply and demand dynamics.
Since its launch, Bitcoin Tracker One has become one of the most popular products for accessing cryptocurrency exposure. It has been particularly popular with European investors who are looking for an easy way to get exposure to Bitcoin without having to deal with the complexities of buying and storing the digital currency themselves.
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