‘Soft’ Crypto ETF Alternative Now Geared Towards U.S. Investors, Says Bloomberg

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Bitcoin (BTC)-based exchange traded note (ETN) listed on the Nasdaq Stockholm exchange is now being targeted towards U.S. investors, Bloomberg reports Wednesday, August 15.

As many in the U.S. clamor to see a Bitcoin exchange-traded fund (ETF) approved by regulators, this so-called “soft” alternative has been trading on the Swedish exchange since 2015, but is now being quoted in dollars under the ticker CXBTF as of Wednesday. The product, dubbed Bitcoin Tracker One, is still technically listed and traded in Sweden, but many consider this latest move to be a gateway for U.S. investors. As CoinShares Holdings CEO Ryan Radloff told Bloomberg: “Everyone that’s investing in dollars can now get exposure to these products, whereas before, they were only available in euros or Swedish krona. Given the current climate on the regulatory front in the U.S., this is a big win for Bitcoin.” As Bloomberg notes, trading Bitcoin Tracker One is now “similar to