Crypto-Based ETNs Available to Bulgarian Investors
The Bulgarian Stock Exchange (BSE) has recently launched crypto trading instruments tracking the price rates of Bitcoin (BTC) and Ethereum (ETH). An announcement made last week said:
“Investors looking for suitable innovative crypto products may now freely trade in eight crypto exchange-traded notes (ETNs).”
The Bulgarian stock market follows some major European exchanges such as Deutsche Börse and Euronext, which introduced these investment vehicles two years ago.
BSE Executive Director, Prof. Dr. Manyu Moravenov, commented:
“With the new products of BSE International, we meet the increased market interest in crypto instruments. We are pleased to be able today to offer an alternative asset for trading in cryptocurrencies, making the process easier and simpler for all interested investors.”
Moravenov said the introduction of ETNs will be a safe way for investors to allocate money into digital assets without the need to create and own crypto wallets and cryptographic keys. He added that, these new products are fully compliant.
The BSE further detailed that all products are traded in euros during regular trading hours and is a continuation of BSE’s long-term partnership with Deutsche Börse and the market maker Tradegate AG.
Just recently, Bulgaria’s Finance Minister Asen Vasilev told Bloomberg that his country is exploring options to allow cryptocurrency payments.
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Source: igaming
