XBT Provider, a Swedish company that launched the world’s first bitcoin-based instrument on a regulated exchange (Nasdaq Nordic), has gone from nothing to world-leading in less than a year and is now starting to expand globally, including into Luxembourg.
Their first product, Bitcoin Tracker One, has seen substsantial growth: the product is designed to mirror the return after fees of the underlying asset. However, this product is mainly aimed at Sweden since it is denominated in SEK. Therefore, the company recently launched another product, Bitcoin Tracker EUR, which instead is denominated in Euro to reach a broader market. These products are listed on Nasdaq Nordic and available to anyone who can trade there.
Currently, someone in a very different timezone may not have a convenient way to trade in this instrument, and since bitcoin is trading 24/7, the company is aiming at expanding to multiple locations to solve this.
The firm's expansion plans include both through Europe as well as globally; regarding the Grand Duchy, the products are attractive for investors in Luxembourg because they are by far the most convenient ways to invest in bitcoin. There are no other regulated instruments in Europe which put them in quite a unique position at the moment.
Bitcoin is becoming a new asset class that has low correlation with almost any other asset. This makes it an interesting investment for investors that are looking to diversify their portfolio.
