XBT Provider AB – Clarification Regarding Normal Trading Of Bitcoin And Ether Certificates
STOCKHOLM, SEPTEMBER 10, 2018 —— XBT Provider AB, the issuer of bitcoin and ether tracking certificates on Nasdaq Stockholm, wishes to clarify that the recent action by the U.S. Securities and Exchange Commission to temporarily suspend trading in the securities Bitcoin Tracker One and Ether Tracker One relates only to trading in the Unites States, does not apply to trading on the listing market - Nasdaq Stockholm, and does not relate to any action taken or failed to be taken by XBT Provider AB.
It is our understanding that this action by the U.S. Securities and Exchange Commission was taken due to possible confusion in the U.S. market regarding these securities.
XBT Provider AB has not sought registration or trading of these securities in the U.S. and has no responsibility to provide any information with respect thereto to U.S. market participants. Rather, it is our understanding that, under Securities Exchange Act Rule 15c2-12 any broker-dealer that issue quotations for these securities is responsible for ensuring that required information regarding these securities is available.
About XBT Provider AB (Publ)
XBT Provider AB (Publ) (XBT Provider), a CoinShares company, is the Swedish-domiciled issuer of the Bitcoin Tracker One (COINXBT:SS), Bitcoin Tracker Euro (COINXBE:SS), Ether Tracker One (COINETH:SS) and Ether Tracker Euro (COINETHE:SS) series of certificates which are designed to synthetically track the performance of the price of the relevant underlying crypto-asset, bitcoin or ether (in Swedish Kronor or Euro, respectively), less a fee component.
In 2015, Bitcoin Tracker One became the first bitcoin-referenced security available on a regulated exchange when it listed on NASDAQ in Stockholm. In 2017, Ether Tracker One became the first ether-referenced security available on a regulated exchange when it listed on NASDAQ in Stockholm. All four certificates are available and traded in the same manner as any other share or instrument listed on the Nasdaq exchange in Stockholm.
XBT Provider’s Prospectus is approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) and its certificates are governed by Swedish law. XBT Provider is not a licensed financial advisor. The views presented in this release are the opinions of the Board of XBT Provider and no other party. Bitcoin and ether are volatile assets and their prices (and the price of securities that are referenced to them) can move quickly, positively or negatively. Prospective investors in the Issuer’s certificates should carefully consider the suitability of such an investment and whether they have sufficient financial resources in order to be able to bear the risks associated therewith and, in connection with such a determination, should carefully read the Issuer’s latest Prospectus (including, in particular, the risk warnings set out therein). XBT Provider’s certificates do not confer on the holders thereof any claim to or against the relevant underlying crypto-asset to which they are referenced. The value and any payment due under XBT Provider’s certificates will be affected by the exchange rate between the US Dollar and the Euro or, as the case may be, between the US Dollar and the Swedish Kronor. Any returns upon XBT’s certificates will not be the same as the returns which a direct investment of an equivalent sum in the relevant underlying asset could produce. XBT Provider’s certificates are non-equity linked, non-principal protected, unsecured and unsubordinated and do not bear interest.