Trade Bitcoin and Ether through ETNs
Through our Classic account, we offer you access to two Exchange Traded Notes (ETNs) that track the movement of Bitcoin and Ethereum against the USD (BTC/USD and ETH/USD).
Bitcoin Tracker One
Listed on Nasdaq OMX Stockholm.
Traded in EUR and SEK
Compared to buying and selling actual coins on cryptocurrency exchanges, ETNs offer a number of advantages to investors:
You can buy and sell ETNs just like stocks, without needing to own the physical cryptocurrency or open an exchange account.
The ETNs own the underlying physical coins and aren’t traded on leverage, which would amplify your risk.
Even though ETNs offer a number of benefits, you should also be aware of a potential counterparty risk, as the products are listed by a third-party provider - XBT Provider AB - who holds the underlying coins.Trade Now
The risks of cryptocurrencies
Bitcoin and Ethereum surged in value by more than 1,000% and 6,000% respectively in 2017. However, compared to traditional asset classes, cryptocurrencies are high-risk instruments. Understand the risks before you invest:
Over a 24-hour period in late November 2017, Bitcoin rallied to an all-time high of nearly $11,500 before falling 20% to around $9,000. It only touched $2,000 for the first time earlier in 2017.
Crypto markets are still largely unregulated, making them more prone to market manipulation, and hackers have also managed to gain unauthorised access to digital wallets and cryptocurrency exchanges. Potential flaws in cryptocurrency code could also lead to an instant price crash.
Invest in blockchain
Blockchain is the technology underpinning cryptocurrencies. However, its application can be far broader, potentially benefitting industries from banking and insurances to gaming and e-commerce. Buying shares in companies that develop or invest in blockchain can be an attractive alternative to trading digital currencies. Here are 10 examples of businesses that can give you exposure to the blockchain space:
IBM Co. – IBM:xnys
US multinational technology company that’s developed its own IBM Blockchain platform and started to offer blockchain as a service. Blockchain is a small fraction of IBM’s revenue.
Overstock.com Inc. – OSTK:xnas
Online retailer headquartered in Midvale, Utah. Accepts Bitcoin and owns Medici Ventures, its blockchain subsidiary. Blockchain is still a small fraction of its revenue.
Square Inc. – SQ:xnys
San Francisco-based financial services and mobile payment company. Exploring cryptocurrencies to be bought and sold through its payment products, with Bitcoin already supported. Its exposure to cryptocurrencies and blockchain is currently very small.
Cboe Options Exchange – CBOE:xnys
Largest Options exchange in the US, and the first to offer Bitcoin Futures. It plans to launch Futures on Ethereum and other cryptos in 2018. Increased adoption of cryptocurrencies will add positively to Cboe’s financial results, although exposure is still very low.
BTL Group Ltd. – BTL:xtsx
BTL has created an enterprise-grade private blockchain development platform called Interbit. Already working with global organisations in financial services, energy, registry and gaming. The company had little revenue in the past 12 months and a net income loss of CAD 4.2m.
Global Blockchain Technologies Corp. – BLOC:xtxs
Canadian investment company that seeks returns from investing in blockchain technology and cryptocurrencies. No revenue posted in the past 12 months.
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None of the above information constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy. This material is produced for marketing and/or informational purposes only. Saxo Capital Markets Ltd (hereinafter: SCML), its parent company Saxo Bank A/S (hereinafter: Bank), any subsidiaries of the Bank (hereinafter: Saxo Group) and any affiliates whether acting directly through SCML or through branch offices of the Saxo Group make no representation or warranty, and assume no liability, for the accuracy or completeness of the information provided herein specifically in relation to cryptocurrencies and blockchain.
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