CoinShares XBT Provider Ether Tracker One SEK is an Exchange-Traded Product (ETP) launched in 2017 as the world’s first Ether-based security on a regulated exchange. Denominated in Swedish Krona (SEK), it provides Swedish investors with straightforward exposure to Ethereum’s price performance without requiring direct ownership of the cryptocurrency. Issued by CoinShares XBT Provider AB, a Stockholm-based public limited liability company, this synthetic replication ETP tracks Ethereum through collateralized obligations, ensuring transparency via public proof-of-reserves verified by The Network Firm. With a 2.5% annual management fee, it holds significant assets under management, exceeding USD 299 million as of late 2025, and is eligible for Sweden’s tax-advantaged Investeringssparkonto (ISK) on platforms like Avanza and Nordnet. Traded like traditional securities, it enables seamless integration into conventional investment portfolios, offering a regulated bridge to the cryptocurrency market while maintaining full collateralization with physical and synthetic crypto exposure.