KNC Group’s Bitcoin ETN Enters German Securities Market

Tradegate, Germany's second largest stock exchange, announced the introduction of ETN issued by XBT Provider AB, a Bitcoin company under KNC Group. ETN is an unsecured bond and the first Bitcoin exchange-traded note approved by Nasdaq Sweden.

Tradegate's move will make Germany surpass the Swedish securities market, which has always been in the leading position, and become the world's largest securities market. Now, in the Tradegate exchange, both small and large investors can invest in Bitcoin through ETN. Dennis Daiber, CEO of BitcoinCommodities, said in an interview with a local media Bitcoinblog.de:

“In theory, the ETN can be used on any German stock exchange, as long as there is demand.”

Since ETN was launched on May 18 this year, the demand for ETN on the Swedish Nasdaq has increased, reaching 2,000 bitcoins in a few days. Bitcoinblog.de believes that such demand gives Tradegate sufficient reason to consider introducing ETN.

“With the ETN, many small investors who have been waiting to see Bitcoin can finally participate in Bitcoin. Before, they had all kinds of concerns and worries.”

German authorities have not yet made a clear stance on investor participation in Bitcoin activities. As a result, self-employed individuals and companies have been feeling the pressure of regulatory uncertainty for months, leading to the closure of Localbitcoins and the German Savings Bank’s ban on providing services to digital currency trading platforms.

But that has changed dramatically with the introduction of a bitcoin trading tool regulated by Munich-based Fidor Bank, which is expanding its international presence, having launched in the UK and is seeking to enter the US market.

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