Publicly-Traded Bitcoin Fund XBT Provider Resumes Trading Following Acquisition by Global Advisors

A bitcoin trading option targeting European investors and listed on Nasdaq Nordic is once again live after the sudden bankruptcy of one of its principal backers. XBT Provider, the operator of Bitcoin Tracker One and Bitcoin Tracker EUR, announced today its acquisition by Global Advisors – a Jersey-based hedge fund specializing in digital currency. With the move, trading in XBT's exchange traded certificates (ETCs) is again active after being halted in late May due to the bankruptcy of KnC Group, XBT's former guarantor and 72% owner. Nasdaq has approved Global Advisors as the firm's new....

A bitcoin investment vehicle designed to enable European investors with liquid access to returns of bitcoin is now live again on Nasdaq Nordic following its acquisition by a US hedge fund. XBT Provider, a fully hedged bitcoin investment vehicle and the developer of Bitcoin Tracker (COINXBT) and Bitcoin Tracker EUR (COINXBE) has announced its acquisition by Jersey-based hedge fund Global Advisors. Following its acquisition, XBT Provider instruments have resumed trading at Nasdaq Nordic in Sweden. The acquisition also means that Global Advisors will become the new guarantor of Exchange....

Global Advisors, a firm based in Jersey that manages the first regulated bitcoin fund, has been served notice by its bank, HSBC. The firm said it received a notice from HSBC indicating that the company's bank account would be closed in 60 days. A meeting with HSBC personnel at the firm's office in Jersey revealed that the bank feared Global Advisors' account was at risk of potential money laundering. "We heard that our risk profile is not really happening for them," said Jean-Marie Mognetti, a partner with the firm. Invested funds unaffected. Mognetti stressed that the HSBC account being....

The Channel Islands Securities Exchange has announced that it has listed its first regulated bitcoin fund listing, the Jersey’s Global Advisors Investment Fund plc. As the largest of the Channel Islands located between England and France, Jersey, a U.K. dependency, now has the opportunity to push the island’s FinTech sector forward. Jersey Island is pushing efforts to become a Fintech hub. According to Daniel Masters, principal of Global Advisors, the time was ‘right’ for the listing, which is helped by the fact that the digital currency Bitcoin now has a market cap of just under $13....

The Global Advisors Bitcoin Investment Fund (GABI) has completed its first initial offer period and made its first purchase of bitcoin, according to the company. While the amount of cyptocurrency purchased has not been announced, it is clear that the fund delayed the move to make the most of the current decrease in the bitcoin price. GABI is incorporated in the island of Jersey and is possibly the world's first regulated bitcoin investment fund. Transparency and compliance. GABI made the decision to execute its first bitcoin purchase via digitalBTC, Australia's first publicly listed....