Bitcoin-Based Security Makes Its Way To Stockholm Exchange

Bitcoin Tracker ONE, a bitcoin-based security, made a monumental step forward for the cryptocurrency community this week by becoming the first ever investment option to use bitcoin as an underlying asset to trade on a regulated exchange.

The security is traded in krona on Nasdaq's Stockholm exchange.

A New Kind Of Security

BTO was developed by Swedish mining company KnCMiner through XBT Provider and went live on Monday.

The exchange-traded note gives investors interested in the growing popularity of bitcoin an opportunity to invest in the trend without actually holding any of the currency itself. Many say this development has significantly closed the gap between traditional financial markets and evolving cryptocurrencies.

Related Link: Bitcoin Gaining Support Among Do-Gooders

Nasdaq Integrating Bitcoin

The introduction of BTO marks yet another way that Nasdaq has become integral in the future of digital currencies. NASDAQ OMX Group, Inc. (NASDAQ: NDAQ) recently revealed that it was planning to revamp its operations by including blockchain, the ledger-like technology that bitcoin runs on, into some of its smaller markets.

The First Of Many

BTO is the first bitcoin security to trade on a regulated exchange, but it is unlikely to be the last.

Many see bitcoin-based trading opportunities becoming popular among investors as many have been hesitant to buy and sell the currency itself. The Winklevoss twins have been promoting their own bitcoin-based security for months, an exchange-traded fund set to be introduced in the U.S. later this year.

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