The Bulgarian Stock Exchange (BSE) launched on Thursday (Feb. 17) eight crypto exchange-traded notes (ETNs). Investors in Bulgaria can now trade in crypto instruments based on and following Bitcoin and Ethereum prices through BSE International.
By launching the new instruments, the Bulgarian Stock Exchange offers for the first time in the South East European country an alternative to the traditional cryptocurrencies and joins leading European exchanges such as Deutsche Börse and Euronext, which started trading in these instruments two years ago.
New York-based fund management company Wisdom Tree has listed the WisdomTree Bitcoin and WisdomTree Ethereum products. New York-based investment management firm VanEck has listed the VanEck Vectors Bitcoin exchange-traded note (ETN) and VanEck Vectors Ethereum ETN. Switzerland-based investment product provider 21Shares has listed Bitcoin ETP and Ethereum ETP. ETC Group’s Physical Ethereum is an exchange traded cryptocurrency (ETC) that tracks the price of Ethereum’s Ether coin. And BTCetc is the first centrally-cleared Bitcoin ETP available on Germany’s largest stock exchange, Deutsche Börse.
“With the new products of BSE International, we meet the increased market interest in crypto instruments. We are pleased to be able today to offer an alternative asset for trading in cryptocurrencies, making the process easier and simpler for all interested investors. With BSE International crypto ETNs, investors are not committed to creating own crypto wallets or cryptographic keys, while receiving guarantees that the instruments they choose are systematically regulated and regulatory compliant.”, stated Assoc. Prof. Dr Manyu Moravenov, executive director of BSE.
With the launch of the new crypto ETNs, BSE continues its long-term partnership with German exchange operator Deutsche Börse and the market maker Tradegate AG, which will ensure the liquidity of the instruments. The innovative products are traded in euros and during the regular trading session.
The BSE has been using Deutsche Börse’s trading systems since 2008, and adopted its modern T7 platform since 2019. Various other exchanges in Europe and globally also use Deutsche Börse’s leading trading architecture. The global derivatives exchange Eurex, the Frankfurt Stock Exchange with its Xetra platform, and the European Energy Exchange (EEX), the number one in global power trading, all use T7. The cash market trading of the Vienna Stock Exchange and the Shanghai Stock Exchange is based on Deutsche Börse technologies, and exchanges in Budapest, Ljubljana, Prague, and Zagreb have also been using Deutsche Börse technology for many years. T7 stands for low latency, enormous reliability, and a high degree of flexibility. This is demonstrated by its diverse use on cash, derivatives, and energy markets worldwide.