Nasdaq has announced that 21Shares has listed its first two physically backed ETNs on Nasdaq Stockholm.
The two instruments listed have Bitcoin (ISIN: CH0454664001) and Ethereum (ISIN: CH0454664027) respectively as underlying assets. In conjunction with the listing, Nasdaq has launched a new segment for ETNs, securities listed on a regulated exchange tracking an underlying asset with liquidity supported by a market maker.
Cryptocurrency ETP issuer 21Shares is listing the first two physically backed products on Nasdaq Stockholm with Bitcoin (Ticker: ABTC) and Ethereum (Ticker: AETH) as underlying assets. As of November, 21Shares managed USD2.9 billion in 20 European crypto ETPs and 82 listings.
“We are excited to become the first issuer of physically-backed crypto ETNs for Nasdaq Stockholm, one of the most tech-forward global exchanges,” says Hany Rashwan, CEO of 21Shares. “Our partnership is a strong endorsement of 21Shares’ mission to make cryptos more accessible in a simple and regulated manner.”
In 2015, Nasdaq Stockholm was among the first exchanges in the world to trade exchange listed products with Bitcoin as an underlying asset.
“Exchange Traded Notes provide access to alternative investments while maintaining the transparency of a regulated marketplace, and we are happy to launch this new segment at Nasdaq Stockholm with 21Shares as the first issuer,” says Helena Wedin, European Head of Exchange Traded Products at Nasdaq.
All ETNs listed at Nasdaq Stockholm are available to trade through most regular banks and brokers.