A bitcoin trading option targeting European investors and listed on Nasdaq Nordic is once again live after the sudden bankruptcy of one of its principal backers.
XBT Provider, the operator of Bitcoin Tracker One and Bitcoin Tracker EUR, announced today its acquisition by Global Advisors – a Jersey-based hedge fund specializing in digital currency. With the move, trading in XBT's exchange traded certificates (ETCs) is again active after being halted in late May due to the bankruptcy of KnC Group, XBT's former guarantor and 72% owner.
Nasdaq has approved Global Advisors as the firm's new guarantor. Simultaneously, the XBT Group has also become a Global Advisors subsidiary.
In statements, Daniel Masters, co-founder and director of Global Advisors, took an expansive view of the sale and how it bolstered the firm's offerings.
Johan Wattenström, CEO and co-founder of XBT Group, commented that, as part of Global Advisors, his firm now has the "capabilities and means" to more quickly grow its business and provide investors with a "broad range of products and services for safe and easy exposure to bitcoin markets".
KnC, a startup that had raised $32m in venture funding, declared itself bankrupt in May.
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