St Helier-based commodities asset management firm Global Advisors (Jersey) Limited – GAJL – has bought Swedish bitcoin tracker XBT Provider and won approval from the Swedish stock exchange to resume trading.
The XBT Provider instruments Bitcoin Tracker One and Bitcoin Tracker EUR are now trading at Nasdaq Nordic in Stockholm. GAJL is the new guarantor of the ETCs (Exchange Traded Certificates), and the XBT Group has become a subsidiary of Global Advisors.
Bitcoin Tracker One and Bitcoin Tracker EUR are designed to provide investors with liquid access to the returns of the underlying bitcoin asset. XBT Provider is fully hedged and holds bitcoins equivalent to the value of ETCs issued.
Daniel Masters, Co-Founder and Director of GAJL, said: "We believe bitcoin will change the world. Acquiring control of XBT Group is an opportunity to increment our strategy of creating access to bitcoin as an asset class. XBT’s products offer one-click, delta-one exposure to bitcoin via a wide range of electronic trading platforms."