Ethereum Goes Mainstream: First Ever Ether ETN Launched On Nasdaq Stockholm

Tyler Durden's picture

At a time when the SEC is still debating whether to permit bitcoin-based ETFs in the US, Europe has been one step ahead thanks to the Swedish-based XBT Exchange Traded Notes (from provider CoinShares). And today, remaining one step ahead of the US, the same team behind the XBT ETN has launched the first ever ETN for Ether, the native token of the Ethereum platform, which will be listed on the Nasdaq Stockholm.

The two ETNs, COINETH:SS and COINETHE:SS are denominated in SEK and EUR respectively, and similar to the group’s bitcoin ETNs, the ether products are structured to track the price of ether, as determined by an index rate comprising the average of the 3 most liquid ether exchanges, daily. The factsheet for the ETN creator, CoinShares, can be found here.

No longer limited to OTC and/or other potentially "shady" exchanges, investors who want direct exposure to ether can now trade via a broker platform; Notably, the 2 listed trackers are the only route for European investors to add ether to their portfolio via an established exchange. Today's launch means that the NASDAQ now has 2 crypto-assets listed, Bitcoin and Ether, making it the only established exchange with multiple crypto-investment vehicles.

Unlike direct exchange trading, the ETNs will be traded during normal market hours on Nasdaq in Stockholm, and what is notable is that in some jurisdictions, the note may be eligible for investment via tax-advantaged retirement accounts. Bitcoin and Ethereum-based IRAs, anyone?

According to CoinShares, "The Ether listing is a great example of traditional finance (Nasdaq) working to innovate in collaboration with the emerging world of crypto-finance. This Standing in contrast to recent comments from some high-level traditional finance executives who are apparently more dismissive of crypto-finance."

Predictably, the people behind the ether ETN - XBT Provider by CoinShares - were delighted with getting their product to market first: “The listing of these two Ether ETNs is a major win for European investors who have been requesting these products for over a year now. As of today, if investors want hassle-free exposure to the price movements of ether, they simply call their broker or trade on their normal brokerage platform - that’s truly remarkable. We are thrilled to be able to deliver on investor demand via a safe, familiar route in Nasdaq,” says Laurent Kssis MD of XBT Provider by CoinShares.

“Today is a historical moment for Ethereum and ether as an asset; and for the future of crypto-assets. It was a little over two years ago that the bitcoin ETNs began trading – offering investors exposure to bitcoin via an established exchange for the first time. Today, we are able to bring Ether to the market and mark another major first. It is important to remember how far and how fast the space has matured in the less than 8 years since this revolution began,” says Ryan Radloff, Co-Principal at CoinShares.

 

“We’ve stated before that as a group, CoinShares is committed to delivering world-class research and professional-grade access to crypto-assets. Today marks a critical step in delivering on that mission. This launch is the result of a tremendous amount of hard-work from the CoinShares team, key partners and our counterparts at Nasdaq. We could not be more proud to bring this latest set of pioneering product to the market,” says Daniel Masters, Co-Principal at CoinShares.

 

“This is an important moment for investors as they now have access via a safe and familiar route to gain exposure to the price movements of Ether. Nasdaq has consistently proven to be a great partner with respect to bringing these new technologies to market and this latest move is further evidence of their commitment to innovation. This product has been highly requested by investors and we at the CoinShares Group are excited to play a role in bringing it to market,” says Laurent Kssis, MD at XBT Provider, A CoinShares Company.

It remains to be seen whether established traders in the space will pick the ETN over a direct exchange traded method, although considering that as of August, there were at least 55 cryptocurrency funds, making the product increasingly more accessible to retail will probably mean that as the price goes higher, institutional interest in catering to momentum chasers will only grow. Just ask Goldman.

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To Infinity And Beyond's picture

It's on a stock market?

Now I know for sure it's bullshit.

HRClinton's picture

Nothing is more irresistible than an idea whose time has come. 

HRClinton's picture

The blockchain ecosystem is growing. It won't be stopped.

Bitcoin is the Adam, and Etherium is the Eve of cryptocurrencies. Buckle up.

Bud Dry's picture

So Etherium is going to fuck everything up for life?

HRClinton's picture

For Satanic Banksters, yes.

3LockBox's picture

The pumpers sure know how to coordinate their propaganda and pick their spots...

Eerily like the bankers...Hmmmm

PrezTrump's picture

HAHAHA KEEP EATING SHIT YOU HATERS

IH8OBAMA's picture

At least Etherium tells you right in the name what you are going to be holding in the end.

Ether: The medium supposed by the ancients to fill the upper regions of space. i.e. Nothingness

 

Golden Phoenix's picture

In the end you'll still be standing there holding your dick. Presuming you can find it.

Golden Phoenix's picture

To my eyes Ethereum is nothing more than the vehicle banker types are using to pump out ICOs. It's also the only currency to lose $60 million dollars from the currency itself and when it was working as designed to boot. When someone can write a contract and end up crashing the coin by 50% something is wrong. Ethereum smart contracts don't seem so smart. The idea is great but Ethereum is a crappy execution. Doesn't mean it won't go to 100ish and then turn bullish again though. Microsoft brought us crappy execution for decades.

The_merovingian's picture

Technically it is also difficult to scale it up. They will have to fundamentally rethink some portion of the code if it ever finds widespread adoption. It's a nice proof of concept but I think something else will replace it for smart contracts. Bitcoin will survive long term, eth not so sure.

sober_kiwi's picture

Have a look at the technology behind the bitshares, Steem, and EOS platforms - it’s called Graphene. EOS is targeting one hundred thousand transactions per second. It is technically possible to archived such volumes on platforms implemented with Graphene.
Dan Larimar is the man behind this technology.

Albertarocks's picture

One analogy I heard that is really helpful for people to understand goes like this:

If you think of Bitcoin as an image that you can add as an attachment to an email, then Etherium is the email platform you would use to send it.  So Etherium's future is as bright as the first email system that became available to the public.  At the very least, this is not likely a good time for people to scoff at Etherium's future and try shorting it, lol.

HRClinton's picture

Hmm, interesting. 

Given that "shorting" is a concept and mechanism of the fiat currency Ponzi (of a CB monetary ecosystem)...

We need to be very careful in even applying the term "shorting" to the Blockchain ecosystem (of decentralized monetary system).

Nonetheless, it looks like the CB scum is getting in on the System, in an effort to (a) Infiltrate, (b) Corrupt and (c) Hijack it.  How typical and predictable of the (((Bankster scum)))!

Golden Phoenix's picture

Bitcoin is effectively already a delivery system - the largest in fact. The idea Bitcoin needs Ethereum to send it makes zero sense. But you were trying to be helpful so I still give you an A for the effort.

RedDwarf's picture

Bitcoin, litecoin, and the other pure cryptocurrenciese are digital money.

Ethereum is a distributed application platform.

Cryptotokens based on ethereum are stocks / ownership of a given application running on said platform.

Albertarocks's picture

Ethereum is a platform that can also be used to create self actuating contracts, real estate deals, land titles that can never ever be changed.  There are so many kinds of things that Ethereum can be used for that investors aren't even waking up to yet.  It's potential usefulness is absolutely gigantic.

RedDwarf's picture

You are correct.  We'll have distributed decentralized versions of uber, task rabbit, airbnb, tinder, kickstarter, facebook, youtube, twitter, all of it.

We'll have all civil contracts and transactions on it.  It will become the de-facto law.  As you say all titles, deeds, and so forth.  Trademarks, patents, and many others as well.

Most of modern civilization is about transactions, and the ethereum network or something like it is going to become the backbone for all of it combined with some cryptocurrencies, which will transact over it.

Appreciated Chelsea Clinton's picture

I hope it pans out like its big brother, bitcoin. I understand they are fundamentally different, but the potential of both is unreal.

Grave's picture

bitcoin is the wheel
shithereum is the square wheel

tmosley's picture

So are gold and silver.

*Braces for the doublethink*

PrezTrump's picture

Today is an exciting day for us bro.  It's coming true!!

Exponere Mendaces's picture

"Yeah well... uh... gold was used for ... uh... thousands of years!!!!!111!1ONE"

Hahaha, well played.

Its funny how gold is a mental momentum trade - everyone says you should have some, just because they were told the same. Just like how people used to say "Buy IBM" until it wasn't a sure thing anymore.

Gold is being eroded, right now. But the "stackers" wont' see it until it is too late.

 

City_Of_Champyinz's picture

Ya, that is why world governments are buying gold bullion in massive quantities.  For sure.

Schmuck Raker's picture

PSA - BTC

Beware of Bitcoin's possible incompatibility with some major services
11 October 2017

 

https://bitcoin.org/en/alert/2017-10-09-segwit2x-safety

abyssinian's picture

You guys better load up before it goes to $1000.   So many crypto index funds are about to launch holding Ethereum, NEO and other top altcoins.. 

That floodgate is about to open

Hkan's picture

"stockholm" is that a crypto currency?

e_goldstein's picture

It's a syndrome.

It also used to be a beautiful city in a country called 'Sweden' before it became Swedistan.

Albertarocks's picture

Cryptos are here to stay, that's for damned sure.  In fact 4 weeks ago a new company was launched that specializes in mining various blockchain technologies.  It doubled in value in about a week, but it's stalled right there, which is completely natural since any stock needs some time to digest a massive move upward.  The fact that it's not crashing right back down to where it started from is a dead giveaway that it's the real deal.  I definitely consider this congestion as one hell of a buying opportunity.  So for those who are interested you can check out their website where there is a short video describing exactly what they do.  They have a massive mining platform.  Might as well get in on the ground floor while this stock is probably as cheap today as you're ever going to see it.

https://www.hiveblockchain.com/

AlphaSeraph's picture

I didn't noticed your post until after I posted my Hive comment. I also think Hive is the real deal.

Albertarocks's picture

Without a doubt.  It's just in a sideways congestion right now, which is very, very healthy.  Hang on to it bro :-)

Golden Phoenix's picture

Cloud mining. What more need be said?

Maestro Maestro's picture

Longer than that I would think? The CIA was founded in the Forties, no?

Cryptos = CIA

silverserfer's picture

the one Mark Cuban uses........... 

 

better load up   lol

To Infinity And Beyond's picture

So when all the bitcoin are mined and there is no more money for miners to make who will be processing all the transactions that have to be stored?

Will these miners use all that power for free?

tmosley's picture

The miners get the transaction fees.

HRClinton's picture

The BE (Blockchain Ecosystem) will solve and resolve all these issues in due course.

Just like the Internet Ecosystem keeps solving and resolving its own issues and challenges. 

That's the beauty of De-centralized systems: Ecosystems EVOLVE as they grow.

(You still seem stuck in the Central Planning paradigm, which is symptomatic of hierarchical structures like Central Banking and One-God mental models. Come on over to the Decentralized world of libertarianism, as found all around you in Mother Nature).  :-)

Maestro Maestro's picture

Don't worry, the CIA will solve all your issues for you first by torturing you, then killing you. Because they are here to help.

But they only take cryptos and other unlawful fiat currencies.

That's what Article 1, Section 10 of the United States Constitution says.

Jein's picture

Also the last btc won't be mined until 2140 

moonstears's picture

See that?? XRP Ripples, I learned about them years ago HERE on ZH! In late 2013 they showed up in a big way at Congressional hearing on Bitcoin. Given the thumbs up by TPTB, then. TODAY Ripplelabs have 100 bank/finance clients and this very week the "Swell" they have former FED Res Head, Ben the Bernankeeeee as guest speaker! Remember that fucker? Bugs Bunny used to often say: "If you can't beat 'em, join 'em" XRP, do your  own DD. P.S. I passed on BTC at $27, kid you not!

The Divided Stoopids of DuhMerica's picture

I have friends in Minneapolis who started mining BTC in 09.

I first passed on it when it was worth less than a cent!!! LOL

Schmuck Raker's picture

Got Bancor?

"Front-running Bancor in 150 lines of Python with Ethereum API"

https://hackernoon.com/front-running-bancor-in-150-lines-of-python-with-...

AlphaSeraph's picture

Hive Blockchain Technologies is a very interesting crypto play. It's "HIVE" on the TSXV. It's an Ethereum mining data center (actually as of this morning, 2 mining data centers).

Disclosure, I own some HIVE...but I'm a poor pleb so I only have 250 shares and bought not long ago right around its current price. 

Just figured I'd share the name of a company that I think will grant some solid exposure and growth potential.

Albertarocks's picture

I mentioned that earlier on this thread and some cunt apparently thinks guys like you and me are scammers.  I say fuck these pricks on ZH.  If they don't appreciate tips like this I'm not going to bother telling 'em in the future.  That's the last time I'll go to the trouble to give a helpful 'heads up' on this site.  Let them find their own stocks.  There are plenty of other sites where friendly tips are appreciated.

#pissed

AlphaSeraph's picture

I actually just noticed your post and replied to it (the original). It's simple. Say your peace and let people do their own research and come to their own conclusions. I happen to think that people who are genuinely intrested in the crypto space will look into HIVE and think to themselves "Well shit isn't that interesting".

 

a Smudge by any other name's picture

Double fuck 'em by keeping it up. Lots of us appreciate it, a few of us bitch about it.

Exponere Mendaces's picture

I've been telling these gray-haired assholes about Bitcoin years ago.

They sure won't listen about other tokens, so just save your keyboard and don't bother.

The only thing the ZH comment section is good for is watching idiots make fools of themselves, and then pointing it out.