Cryptocurrency exchange platform, Bipanda, has listed its first bitcoin exchange-traded cryptocurrency note on Deutsche Boerse that would trade in the euro.
The Bitpanda Bitcoin ETC aims to serve investors seeking to diversify their portfolios and have exposure to digital assets.
The ETC by the Vienna-based firm would track the price of bitcoin. The note is physically backed by BTC and would be stored in cold storage with a licensed custodian.
The Vienna-based cryptocurrency exchange is seeking to include more cryptocurrency ETC products next year.
Deutsche Bourse’s Xetra has supported the unveiling of products from WisdomTree, and 21 Shares with the emergence of physical crypto-backed exchange-traded products.
Bitpanda was founded in 2014 as a bitcoin exchange platform and is currently valued at $4.1 billion. The exchange has expanded to commodities, stocks, and ETFs with a 3 million user base.
Source: Coindesk