On November 25, the asset manager Vaneck announced the launch of an exchange-traded product (ETP) called the “Vaneck Vector Bitcoin ETN.” The exchange-traded note is physically-backed by bitcoin and listed on the trading exchange Deutsche Böerse Xetra. The newly listed Vaneck bitcoin ETN provides investors with the opportunity to buy and sell the ETN, and participate directly in the performance of bitcoin without actually purchasing the crypto asset.

There’s a new bitcoin (BTC) exchange-traded note available on the exchange Deutsche Böerse Xetra, a marketplace for the trading of shares and other securities. The novel ETN is issued by the asset manager Vaneck, an investment management firm with an estimated U.S. $49 billion assets under management (AUM). On Twitter, the digital asset strategist and director at Vaneck/MVIS, Gabor Gurbacs announced the new bitcoin ETN on Wednesday.

“Today Vaneck launched a bitcoin ETN,” Gurbacs tweeted. “The ETN is physically-backed by bitcoin and listed…

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Source: https://news.bitcoin.com/asset-manager-vaneck-launches-physically-backed-bitcoin-exchange-traded-note/