Former J.P. Morgan Trader Launches First Ever Ethereum ETN

For the first time, an Ethereum-focused investment product is available to traders on the Nasdaq Stockhom exchange, a sign that cryptocurrency is slowly making its way to more conventionalasset circles.

The Launch of CoinShares Ethereum ETN

Beginning Wednesday, investors will be able to access two exchange traded notes (ETNs) with exposure to the Ethereum network. CoinShares, which is headed by former J.P. Morgan trader Daniel Masters, is offering ETNs that track the price of Ether Tracker One (COINETH:SS) and Ether Tracker Euro (COINETHE:SS).

The ETNs will differ from actively traded assets in that they will be completely passive.

The ether-based investments become the second major crypto asset CoinShares has listed on Nasdaq. It also gives Nasdaq Stockholm the distinction of being the only European exchange to offer exposure to two crypto-based assets (bitcoin and Ethereum).

CoinShares has been called the iShares equivalent for cryptocurrency investments, as it now has six professional grade crypto-based investment vehicles. Collectively, these assets are valued at more than $300 million.

CoinShares Issues Statement

Ryan Rudolf, Co-principal to CoinShares, has issued the following statement:

Today is a historical moment for Ethereum and ether as an asset; and for the future of crypto-assets. It was a little over two years ago that the bitcoin ETNs began trading – offering investors exposure to bitcoin via an established exchange for the first time. Today, we are able to bring ether to the market and mark another major first. It is important to remember how far and how fast the space has matured in the less than 8 years since this revolution ban.

Daniel Masters, the other principal at CoinShares, says the new investment vehicles represent a “hassle-free” way to enter the world’s fastest-growing asset class. Whereas bitcoin disrupts the function of analog money and analog gold, Ethereum disrupts the function of the stock market, according to Masters.

Ethereum continues to be the world’s second-largest cryptocurrency when measured in terms of market cap.

Featured image courtesy of Shutterstock

Chief Editor to and Contributor to, Sam Bourgi has spent the past nine years focused on economics, markets and cryptocurrencies. His work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Avid crypto watchers and those with a libertarian persuasion can follow him on twitter at @hsbourgi