Europe’s first regulated bitcoin product launches in Gibraltar

By Jemima Kelly LONDON (Reuters) – Europe's first regulated bitcoin product – an asset-backed exchange-traded instrument that will invest exclusively in the digital currency – begins trading this week on the Gibraltar Stock Exchange and Germany's Deutsche Boerse. Its value has been highly volatile, peaking at more than$1,200 in late 2013 before crashing after the collapse of the Mt. Gox bitcoin exchange. BitcoinETI will be available through regulated brokerages across Europe, and settlement will be handled through Clearstream and Euroclear, the Gibraltar Stock Exchange said, rather than via bitcoin's shared ledger system – the blockchain.

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