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8 Crypto ETNs Launched by Bulgarian Stock Exchange

Bulgarian Stock Exchange Launches 8 Crypto ETNs

Bulgarians can now invest in crypto assets through their country’s stock market. Eight ETNs were launched by the Bulgarian Stock Exchange based on bitcoin and ethereum. This follows the lead of leading European platforms that offer such products.

Crypto-Based ETNs Offered to Bulgarian Investors

Bulgarian Stock Exchange (BSE) has started trading crypto instruments tracking the price rates of bitcoin (BTC) and ethereum (ETH). “Investors looking for suitable innovative crypto products may now freely trade in eight crypto exchange-traded notes (ETNs),” according to an announcement published this past Thursday.

The launch of the instruments by the Bulgarian stock exchange follows the lead of Euronext and Deutsche Borse, major European exchanges, according to the press release. Professor Dr. Manyu Moravnov, Executive Director of BSE, commented on the developments.

With the new products of BSE International, we meet the increased market interest in crypto instruments. We are happy to be able to offer a different asset for trading in crypto currencies, making it easier for all investors.

ETNs will enable investors to invest in digital assets without having to create cryptographic keys or crypto wallets. The executive also stated that they will be able to access regulation-compliant cryptocurrency instruments.

The trading of crypto-based ETNs continues the long-term partnership between Deutsche Borse (BSE) and Tradegate AG (Tradegate AG), the Bulgarian stock exchange body explained. The announcement stated that this will ensure liquidity for crypto instruments. BSE explained that the products can be traded in euros during regular trading sessions.

The offering of the ETNs comes after Bulgaria’s Finance Minister Asen Vasilev unveiled in a recent interview with Bloomberg that the Southeast European nation, a member state of the European Union, is exploring options to facilitate cryptocurrency payments.

A crypto payment system may be implemented “in the near to medium term,” stated Vasilev, who is also deputy prime Minister. He said that the executive power in Sofia was discussing the matter with representatives from the country’s cryptocurrency industry and the Bulgarian National Bank.

Do you think investors will take advantage of the new crypto instruments offered by the Bulgarian Stock Exchange? Please leave your comments below.

Lubomir Tassev



Image Credits: Shutterstock, Pixabay, Wiki Commons

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