Bulgaria authorizes investment in cryptos on the stock market
The Bulgarian Stock Exchange authorized eight ETNs, based on bitcoin and ether, facilitating and simplifying the process for investors
Manyu Moravenov, CEO of the Bulgarian Stock Exchange, reported the launch of eight Exchange-traded notes (ETNs) based on bitcoin (BTC) and ether (ETH).
According to the information issued by the Bulgarian Stock Exchange, citizens will be able to invest in cryptocurrencies through the country’s stock market, hence investors interested in innovative and suitable crypto products will be able to trade freely with the eight cryptocurrency ETNs.
Moravenoy pointed out that “with the new products, the market responds to the growing interest in crypto instruments and is proud to be able to offer today an alternative asset for trading cryptocurrencies, facilitating and simplifying the process for all interested investors.”
Cryptocurrency-based NCDs
The market-negotiable note or ETN is a financial asset that replicates the value of a share, commodity or any other measure in an agreed period of time that will allow capitalists to invest money in cryptocurrencies without the need to “create and own crypto wallets and crypto keys, and at the same time, they will have access to crypto instruments that comply with current regulations.”
The trading of ETNs based on crypto assets will allow the Bulgarian Stock Exchange to establish an alliance with Deutsche Börse and the market maker Tradegate AG, guaranteeing liquidity to crypto instruments.
The ETN offer comes after Asen Vasilev, Bulgarian Finance Minister, stated that the country is looking for options to provide cryptocurrency payments and it is possible that a cryptocurrency payment mechanism will be introduced “in the short or medium term”.
M. Rodríguez
Source: crypto247.com
