First Spot Bitcoin ETP Launches In Dubai – Bitcoin Magazine

Financial services firm 21Shares has launched the first physically-backed bitcoin exchange traded product (ETP) in the Middle East, per a press release.

The ETP will trade on the Nasdaq Dubai exchange under ticker symbol ABTC similar to the spot bitcoin ETP the company previously launched in Europe.

“Coming from the Middle East myself, the region is exceptionally important to me and, as a company, we are committed to providing regional investors with safe and secure access to cryptocurrency-backed products,” said Hany Rashwan, CEO and co-founder of 21Shares.