The BSE has begun trading crypto instruments that track the prices of bitcoin ( BTC and ethereum [ ETH]). According to an announcement, investors looking for innovative crypto products can now trade in eight crypto-exchange-traded notes ( ETNs), as per a Thursday publication.
The launch of these instruments will see the Bulgarian stock exchange follow in the footsteps Euronext and Deutsche Borse, major European exchanges, as the BSE stated in a press release. Professor Dr. Manyu Moravenov, BSE Executive Director, commented on the developments:
We are able to meet increased interest in crypto instruments with the new products of BSE International. We are happy to be able to offer a cryptocurrency trading asset, making it easier for all investors.
Moravenov explained that ETNs will enable investors to invest in digital assets without having to create or own cryptographic keys and crypto wallets. The executive also stated that they will be able to access regulation-compliant cryptocurrency instruments.
BSE continues its long-term partnership to Deutsche Borse, Tradegate AG and other market makers Tradegate AG. The trade of crypto-based ETNs will continue the BSE’s long-term partnership, the Bulgarian stock exchange body stated. The announcement stated that this will ensure liquidity for the crypto instruments. BSE explained that the products can be traded in euros during regular trading sessions.
After Asen Vasilev , Bulgaria’s Finance Minister, revealed in a Bloomberg interview that the Southeast European country, which is a member of the European Union was exploring possible options for cryptocurrency payments.
Vasilev, who is also deputy prime Minister, said that a crypto payment system could be implemented ‘in the near to medium term’. 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.