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Bulgarian Stock Exchange Launches 8 Bitcoin, Ether-based ETNs

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An ETN will allow investors in Bulgaria to start trading crypto instruments that track the price rates of bitcoin and ethereum. Several European exchanges, such as Deutsche Börse and Euronext which introduced these instruments two years ago, now offer crypto related products available for trade. An ETN pays investors at maturity with the full value of the index minus a management fee. 

This ETN will allow investors to invest into digital assets and cryptocurrencies but will not allow investors to hold their own private keys. This will give investors an option to have exposure to bitcoin and cryptocurrencies in any type of account including retirement accounts.

This offering comes after Bulgaria’s Finance Minister Asen Vasilev said that Bulgaria is exploring option to facilitate cryptocurrency payments in an interview with Bloomberg. Vasilev sees the crypto payment mechanism to be introduced in the “short to medium term” and added that the executive power in Sofia is discussing the matter with the Bulgarian National Bank and representatives of the country’s crypto industry.


 

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Brandon is a data analyst who enjoys writing about bitcoin and finance. He is the co-founder of Green Candle Investments, a bitcoin and finance media company.

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