A report has it that Bulgarians can now invest in digital assets via the country’s stock market.
The Bulgarian Stock Exchange has recently launched eight ETNs based on the two largest cryptocurrencies by market cap, Bitcoin (BTC) and Ethereum (ETH).
Changpeng Zhao, the CEO of Binance, the world’s largest crypto exchange by trading volume, shared the news with his teeming followers on Twitter moments ago. Expectedly, the news has gained tons of reactions.
CZ Binance tweeted, “Bulgaria Stock Exchange Lists Bitcoin and Ethereum ETNs.”
Bulgaria Stock Exchange Lists Bitcoin and Ethereum ETNs
— CZ 🔶 Binance (@cz_binance) February 21, 2022
As further elaborated by Bitcoin.com, the new development followed the similar step taken by leading European platforms, which now support such products.
As explained by BSE Executive Director, Manyu Moravenov, the newly launched ETNs will allow the purchase of crypto assets without the need to create and own crypto wallets and cryptographic keys. They will also make investors have access to crypto instruments that are regulation-compliant.
Manyu Moravenov noted:
“With the new products of BSE International, we meet the increased market interest in crypto instruments. We are pleased to be able today to offer an alternative asset for trading in cryptocurrencies, making the process easier and simpler for all interested investors.”
The report further stated that the trading of crypto-based ETNs comes as a result of the long-term partnership that BSE sealed with Deutsche Börse and the market maker Tradegate AG.
The announcement noted that the partnerships will ensure the liquidity of the crypto instruments. Also, the products are traded in euros and during the regular trading session, the report noted.
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