First Regulated Bitcoin Product Launches In Europe

Digital currency is all the rage among a small section of the population, but it’s about to get more mainstream with the launch of the first regulated bitcoin product in Europe.

The digital currency will start trading on the Gibraltar Stock Exchange and Germany’s Deutsche Börse this week. Dubbed BitcoinETI, it will be available through regulated brokerages across Europe. The settlements will be taken care of by Clearstream and Euroclear. On its website, the Gibraltar Stock Exchange announced BitcoinETI, saying: “The Gibraltar Stock Exchange welcomes BitcoinETI, an asset-backed Exchange Traded Instrument that is invested exclusively in bitcoin, making it the first European regulated product for the leading digital currency. The Bitcoin Exchange Traded Instrument (ETI) was approved for admission to listing on GSX and will be co-listed on Deutsche Börse this week under the symbol ‘BTCETI.’” The Gibraltar Stock Exchange noted that, by listing the ETI, which is an EU regulated market, it is able to bring increased transparency and liquidity to investors.

Bitcoin is a web-based digital currency that consumers can use to send and receive money instantly around the world without incurring any fees and without the intervention of third parties. The anonymity associated with it appeals to many people, but it is also accepted at a slew of major retailers conducting business online. It’s also a currency so there are professional and novice traders involved. Bitcoin is used in greater than 200,000 transactions online per day. The value of a bitcoin is volatile, to say the least, and can have huge upswings and declines. At the end of 2013, one bitcoin was worth $1,200 and now trades for about $650. And while uncertainty over the U.S. election is a drag on some businesses and stocks, bitcoin could do well under a Donald Trump presidency, according to a recent Jupiter Research study that found bitcoin trading would thrive in an environment that is defined by turmoil, if that were to happen under Trump.