LONDON (Reuters) – Europe’s first regulated bitcoin product – an
asset-backed exchange-traded instrument that will invest
exclusively in the digital currency – begins trading this week on
the Gibraltar Stock Exchange and Germany’s Deutsche Boerse.
The Web-based currency can be used to send money instantly around
the world, free of charge and with no need for third-party
checks. It is accepted by several major online retailers and is
used in more than 200,000 daily transactions.
Its value has been highly volatile, peaking at more than$1,200 in
late 2013 before crashing after the collapse of the Mt. Gox
bitcoin exchange. It has since stabilized somewhat, trading at
around $655 on Monday, up more than 50 percent this year.
BitcoinETI will be available through regulated brokerages…