Sweden’s Bitcoin Exchange Fund is bigger than the US Exchange Fund

Eric Balchunas, a senior ETF analyst, has declared that Sweden’s Bitcoin exchange-traded fund is bigger than the US exchange-traded fund.

The question is: why is the Swedish Bitcoin so popular?

A major Swedish stock exchange, called XBT Provider, is one of the three methods for people to invest in Bitcoin. The point is that investors will be able to invest only if they follow strict and regulated rules. A couple of months ago, Mark Cuban, which is the owner of NBA’s Dallas Mavericks and a billionaire investor, has declared that he officially invested in Bitcoin using XBT Provider in Sweden.

Mark Cuban has declared at the Vanity Fair New Establishment Summit that was held in Los Angeles that:

“It is interesting because there are a lot of assets which their value is just based on supply and demand. Most stocks, there is no intrinsic value because you have no true ownership rights and no voting rights. You just have the ability to buy and sell those stocks. Bitcoin is the same thing. Its value is based on supply demand. I have bought some through an ETN based on a Swedish exchange.”

Another interesting thing is that JPMorgan Securities also traded Bitcoin using the XBT Provider Bitcoin ETN. This transaction took place just right after JPMorgan’s CEO, Jamie Dimon, condemned Bitcoin. But, the point is that investors like Mark Cuban and others are restricted from investing through stock markets and investment platforms. That is why they need other alternatives for investing their money.

That is why several well-known Bitcoin brokerages have released platforms targeted at retail investors. One of them is the Coinbase, which is a $1.6 billion company.

Brian Armstrong, Coinbase’s CEO, has declared that:

“We already store billions of dollars worth of digital assets on behalf of our customers. We serve thousands of institutions via our GDAX product, the leading digital currency exchange in the US. By some estimates, there is $10 billion of institutional money waiting on the sidelines to invest in digital currency today.”