A private stock exchange based in Gibraltar is adding an exchange traded instrument (ETI) invested in bitcoin.
The BitcoinETI, the Gibraltar Stock Exchange announced today, is being issued by a firm called iStructure PCC PLC, based in Gibraltar. Local firms Argentarius ETI Management Limited and Revoltura Limited were also involved with the issuance. The exchange said it was the first of its kind approved in Europe.
The ETI is reportedly being co-listed by marketplace organizer Deutsche Börse, according to the announcement, though that service has yet to independently confirm its participation. Deutsche Börse did not immediately respond to a request for comment.
The Bitcoin ETI is also said to have the support of local regulators in Gibraltar, and according to one of the firms backing the product, is one of several in a planned pipeline tied to digital currencies.
In a statement published alongside the announcement, Financial Services and Gaming government minister Albert Isola said:
"We continue to work with the private sector and our regulator on an appropriate regulatory environment for operators in the digital currency space and the launch of this ETI on our stock exchange demonstrates our ability to be innovative and deliver speed to market."
The Financial Services and Gaming Department was not immediately available for comment.
The listing comes months after the exchange first announced that it would allow the listing of ETIs. The Gibraltar Stock Exchange was founded in 2014.
Date : Published on July 25, 2016 at 17:34 BST