Cryptocurrency enthusiasts all over the world know the name XBT Provider. The company is best known for issuing Bitcoin exchange-traded notes. Ownership of all issued shares in the capital of the company now belongs to CoinShares Limited. That is a pretty interesting development, which shows there is a lot of interest in these Bitcoin ETNs. This change does not introduce any major changes for the company, but marks an important milestone for all parties.
Not too many people know the CoinShares company right now. That is not entirely surprising, although the Jersey-incorporated company has its merit. The CoinShares group is an important player in the world of cryptocurrency. Otherwise, they wouldn’t have acquired XBT Provider right now. It is a pretty remarkable development for all parties involved. Luckily, little will change for the companies in question, which is a good sign.
CoinShares Takes Ownership of XBT Provider
According to the press release,, the new owners are “delighted” about this development. XBT Provider is a key player when it comes to providing Bitcoin investment solutions to traditional financial traders. Their ETNs are traded on Nasdaq in Sweden and have gained a lot of positive attention over the past two years. All of the issued shares are now ownership of CoinShares Limited moving forward. It will be interesting to see what the future will hold for both parties in this regard.
XBT Provider AB Managing Director Laurent Kssis states:
“As a Group, we are very excited to join the CoinShares brand, which currently represents the most diverse family of crypto-asset investment vehicles available. As the first bitcoin-tracking, exchange-traded notes in the world, we believe CoinShares, a family of pioneering crypto-asset products backed by a team with deep financial markets’ experience, is the perfect home for XBT Provider.”
The roadmap presented by the overarching company is seemingly rather ambitious. Although we don’t know what it entails exactly, it appears to be a good match for the Swedish company. Improving exposure to more investors is never a bad thing. Whether or not this will affect the Bitcoin price in any way, remains to be determined. It is a rather intriguing development, all things considered.
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