Kazakhstan launches ETN for Bitcoin￼
Astana International Exchange, a Kazakhstan-based platform, has launched exchange trade notes (ETNs) that are linked to the shares of the American fund ProShares Bitcoin Strategy ETF (BITO).
This new tool will allow Kazakhstani investors to indirectly trade bitcoin futures, since the value of the notes is determined by the value of a fund’s shares. To make trading easier, there will be no restrictions or additional taxes for investors, and AIX customers will not be required to register a digital wallet or deal directly with bitcoins.
The AIX says that Kazakhstanis have access to bitcoin through the Tabys mobile application. An exchange note (ETN) was added to it, whose underlying asset is the shares of ProShares Bitcoin Strategy ETF (BITO). BITO is the first and largest ETF registered by the US Securities and Exchange Commission, investing in bitcoin futures.
BITO bitcoin futures were launched by the ProShares ETF in October last year. It became the first of such instruments to be listed on a US stock exchange. Trading volume with the fund’s shares exceeded $1 billion immediately after launch.