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Saxo Bank adds Ethereum tracker ETNs

Saxo Bank, a major Danish financial services provider and forex broker, announced it is adding Ethereum Exchange Traded Notes (ETNs) to its asset list.


 

The new instruments are in addition to the Bitcoin tracker ETNs earlier and are all listed on Nasdaq OMX Stockholm. The four ETNs are available for trading without leverage on the broker's proprietary platforms SaxoTraderGO and SaxoTrader. The ETNs are issued by financial services company XBT Provider AB, specializing in Bitcoin and Ethereum financial products.


 

We have increasing client demand for exposure to cryptocurrencies and I am very pleased that we can now offer clients exposure to both Bitcoin and Ethereum through Exchange Traded Notes”, said Claus Nielsen, Head of Markets, at Saxo Bank. “Cryptocurrency markets are still at an early development stage and we find that listed products like ETNs without leverage, offering high levels of transparency, are good ways to include cryptocurrencies in our multi-asset product offering spanning more than 35,000 instruments. We continue to follow the developments in cryptocurrency markets and expect to able to add more instruments to our offering going forward”, he added.


 

Exchange-traded notes (ETNs) are a type of unsecured, unsubordinated debt security based on the performance of a market index. Similar to exchange-traded funds (ETFs), ETNs are traded on a major exchange, such as the New York Stock Exchange (NYSE) during normal trading hours.


 

Saxo Bank is a Copenhagen-based bank and brokerage with multiple licenses and regulations, providing its services on a global scale. Its portfolio includes forex, binary options, contracts for difference (CFDs), stocks, futures, and bonds through its in-house SaxoTrader platforms.


 

TAGS: saxo bank  ethereum  etn 

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