Related: Bitcoin Bounce Ignites Talk of Another Comeback

The news of the ETN came at a critical juncture for cryptocurrencies as the US Securities and Exchange Commission is postponing their decision on a bitcoin ETF filed by investment firm VanEck and blockchain technology company SolidX. Regulatory control by the SEC under an exchange would help reticent investors adopt Bitcoin as a legitimate investment opportunity.

Kerner: Bitcoin well-positioned to be a store of value competing with gold from CNBC.

Related: Bitcoin ETF Delay Reveals Weak Traders

For more information on the cryptocurrency market, visit the Bitcoin category.