Bulgarians can now invest in crypto assets through their country’s stock market. The Bulgarian exchange recently launched eight ETNs based on two digital currencies, bitcoin and ethereum, following the example of the main European platforms that support these products.
Crypto-Based ETNs Offered to Bulgarian Investors
Bulgarian Stock Exchange (BSE) began trading crypto instruments following bitcoin price rates (BTC) and Ethereum (ETH). “Investors looking for suitable innovative crypto products can now freely trade eight exchange-traded crypto notes (AND N),” according to an announcement last Thursday.
With their launch, the Bulgarian stock market follows in the footsteps of major European stock exchanges such as Deutsche Börse and Euronext, which introduced these instruments two years ago, the BSE noted in the statement. Commenting on the development, ESB Executive Director Prof. Dr. Manyu Moravenov said:
With the new products from BSE International, we are responding to the increased market interest in cryptographic instruments. We are pleased to be able to offer an alternative asset for cryptocurrency trading today, making the process easier and simpler for all interested investors.
ETNs will allow investors to invest money in digital assets without the need to create and own crypto wallets and crypto keys, Moravenov explained. At the same time, they will have access to regulatory-compliant crypto instruments, the executive pointed out.
The trading of crypto-based ETNs is a continuation of BSE’s long-term partnership with Deutsche Börse and market maker Tradegate AG, the Bulgarian exchange body explained. This will ensure the liquidity of crypto instruments, the announcement notes. Products are traded in Euros and during the regular trading session the BSE detailed.
The ETNs’ offer comes after Bulgarian Finance Minister Asen Vasilev revealed in a recent interview with Bloomberg that the Southeast European nation, a member state of the European Union, is exploring options to facilitate payments. in cryptocurrency.
A crypto payment mechanism could be introduced “in the short to medium term,” said Vasilev, who is also deputy prime minister. He added that the executive branch in Sofia was discussing the issue with the Bulgarian National Bank and representatives of the country’s crypto industry.
Do you think investors will benefit from the new crypto instruments offered by the Bulgarian Stock Exchange? Tell us in the comments section below.
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