Even though a lot of people still hold out hope for a Bitcoin ETF, it looks like exchange-traded notes are all the rage right now. Hargreaves Lansdown will make Bitcoin accessible to retail investors through a new ETN moving forward. This is great news for overall Bitcoin exposure, as it could lead to an increased interest in the popular cryptocurrency.

Bitcoin ETN is Growing in Popularity

Granting traditional investors access to Bitcoin without too much hassle is quite a challenge. Most traditional investors aren’t interested in signing up for a Bitcoin exchange or even purchasing cryptocurrency over the counter. Instead, they look for more institutionalized offerings, such as an exchange-traded fund, or in this case, an exchange-traded note. The Bitcoin ETN has been around for quite some time, and it looks like demand is growing.

Most people in the cryptocurrency world will have heard of a company by the name of XBT Provider. The company is based in Sweden, and they are responsible for creating the world’s first Bitcoin-backed exchange-traded note in the world. So far, this Bitcoin ETN has seen its fair share of success, as it can be traded on Nasdaq Nordic. A UK-based online investment platform will now give its users access to this ETN as well.

Hargreaves Lansdown has built up quite the reputation in the United Kingdom. One does not simply become the region’s most popular online investment platform without doing a few things right. To keep the momentum going, the company has entered a partnership with XBT Provider. This collaboration will result in making Bitcoin available for retail investors in the form of an exchange-traded note, starting today.

As one would expect, this development is positive news for both the United Kingdom and the Bitcoin community. Retail investors with direct access to a Bitcoin-backed ETN could bring positive attention to the world of cryptocurrency. This does not necessarily mean the price of Bitcoin itself will skyrocket over the next few weeks, though. Investors are not buying Bitcoin directly, but rather use this investment vehicle as an intermediary step.

More importantly, regulators have taken somewhat of a positive stance regarding the Bitcoin-backed ETN. That is rather surprising, considering the prospect of a Bitcoin ETF is meeting a lot of resistance due to “lack of regulation.” Investors are seemingly anxious to gain access to Bitcoin one way or another. This creates an interesting financial ecosystem for everyone involved, to say the least. Even in the United Kingdom, regulators are quite pleased with this news.

It is evident Bitcoin is gaining momentum in the United Kingdom as of late. Fidelity Investments, another major entity in the local financial sector, announced all of its staffers and clients can use Bitcoin from now on.  That is a major validation of the popular cryptocurrency by traditional players. It is evident the bad reputation of Bitcoin is slowly being replaced by an understanding and appreciation of what this concept has to offer.

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