L’adoption continue. The Bitcoin invests in the Dubai Stock Exchange via an ETP and finds itself listed on the Nasdaq since October 12!
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Dubai continues to attract investors
Under the small name of ABTC, the bitcoin is now listed on the stock exchange via an ETP launched this beginning of the week. Supported by bitcoin equivalent for a one-to-one value, the ETP is started by 21Shares which keeps safe the equivalent of what is found on the stock market on an external and secure wallet.
Already listed on 12 stock exchanges around the world, such as the Nasdaql’EuroNext or even the German Stock Exchange21Shares continues its expansion, this time taking place in the lands of United Arab Emirates. With a very buoyant market in Germany and Switzerland, the company is betting big on Dubai which is home to a small nugget in terms of crypto-related opportunities.
The region MENA (Middle East and North Africa) which includes North Africa and the Middle East, attracts a maximum ofinvestors. Especially since theInde has decided to tax income related to cryptocurrency up to 30 %.
« The level of interest and compatibility with Middle Eastern crypto has made it a prime market for 21Shares expansion. »
Hany Rashwan – CEO of 21Shares
ABTC is not the first ETP to settle on Nasdaq Dubai. 3iQ’s QBTC has already been available since 2021. But its value is not “backed” by a “physical” bitcoin equivalent according to the CEO of 21Shares.
The democratization of cryptocurrencies continues to expand, stone by stone. This kind of progress is clearly not for “ordinary people”. However, it helps institutionals and large portfolios to take an interest in our ecosystemwhich is always positive.
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