CXBTF ETN
An established bitcoin exchange-traded note has just become available to US retail investors. Through brokerage houses such as E*Trade and others, the CXBTF ETN can now be purchased with US dollars, instead of Swedish krona. The note is a debt instrument in which the asset is insured by the associated bank, in this case a Swiss bank.
This increased access into the BTC market will likely be a serious boon for long-positions. A 50% move in the coming weeks may force short-sellers to cover their positions in light of a bull-market reversal. The ensuing surge could see BTC back in the 10,000+ range.
What do you think? How will this fresh access to BTC impact the digital currency and the wider cryptocurrency market?
