ETHEREUM GETS ITS FIRST EXCHANGE TRADED PRODUCT

Ethereum First: Investment Product Opens for Trading on Nasdaq Exchange

A first-of-its-kind investment product focused on ethereum is now open to investors on the Nasdaq Stockholm exchange.

Announced today, CoinShares, headed by former JPMorgan Chase trader Daniel Masters, is launching an exchange-traded note (ETN) for ether, the cryptocurrency that powers the ethereum blockchain. With the news, the ETN joins CoinShares's original bitcoin ETN offering, launched in 2015, in bringing a well-used mechanism from traditional markets to the world of cryptocurrency.

ETNs function similarly to exchange-traded funds, except rather than give investors access to a basket of assets, they generally give investors exposure to just a single asset.