XBT Provider, a Swedish bitcoin investment company based in Stockholm, has announced a new partnership with cryptocurrency storage startup Xapo.
Products like XBT's provide a way for investors to gain exposure to bitcoin markets without having to purchase or hold the digital currency itself. The provider keeps the lion's share of its coins in cold storage, though smaller amounts may be kept either on an exchange or in a multi-signature 'hot wallet', per the company's safety policy.
Wences Casares, Xapo's CEO, said in a statement:
The partnership comes more than a year after Swedish regulators first approved the ETN for launch. Last month, the firm revealed that it was working with one of the more notable asset managers, Hargreaves Lansdown, to provide access to local investors.
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