The Bulgarian Stock Exchange (BSE) has added eight ETNs based on Bitcoin and Ethereum to traded instruments.
?Bulgarians can now trade in crypto instruments on the BSE
?The Exchange launched today eight crypto ETNs on Bitcoin and Ethereum
?To trade in the new instruments, investors don't have to create their crypto wallets or cryptographic keys
⏭Read more⤵https://t.co/C9Ge5BTh3L pic.twitter.com/jM0Jx7eb9j— Bulgarian Stock Exchange (@BulgarianStock) February 17, 2022
Local media Money.bg report that the BSE has followed the lead of European exchanges. The launch of ETNs is being implemented jointly with Deutsche Börse and market maker Tradegate.
BSE Executive Director Manyu Moravenov explained that the ETNs would allow the purchase of Bitcoin and Ethereum without creating and owning crypto wallets and cryptographic keys.
Moravenov said:
“With the new products of BSE International, we meet the increased market interest in crypto instruments. We are pleased to be able today to offer an alternative asset for trading in cryptocurrencies, making the process easier and simpler for all interested investors.”
Changpeng Zhao, the CEO of Binance, the world’s largest crypto exchange, was also excited by such a development and tweets to let the crypto community know about the widespread adoption of crypto.
CZ Binance tweeted, “Bulgaria Stock Exchange Lists Bitcoin and Ethereum ETNs.”
Bulgaria Stock Exchange Lists Bitcoin and Ethereum ETNs
— CZ ? Binance (@cz_binance) February 21, 2022
According to the money.bg, Finance Minister Assen Vassilev said that the country is exploring introducing a crypto payment mechanism. The matter is being discussed with the country’s Central Bank and representatives of the finance industry.