DGAP-News Cryptology Portfolio Company Iconic Funds' Physical Bitcoin ETP Listing on Deutsche Börse's Xetra
DGAP-News: Cryptology Asset Group PLC / Key word(s): Cryptocurrency / Blockchain/Regulatory Approval
Cryptology Asset Group p.l.c. ("Cryptology")
Cryptology Portfolio Company Iconic Funds' Physical Bitcoin ETP Listing on Deutsche Börse's Xetra
Malta, 12.05.2021. Cryptology Asset Group (ISIN: MT0001770107; Ticker: CAP, formerly 4UD), a leading European investment company for blockchain- and crypto-related business models, announced its portfolio company, Iconic Funds, will have its Physical Bitcoin ETP (ISIN: DE000A3GK2N1; Ticker: XBTI) listed and begin trading on Deutsche Börse's Xetra on May 12, 2021. The exchange traded product ("ETP"), physically backed by Bitcoin, becomes the most cost-effective way for investors to gain exposure to Bitcoin on Xetra with a total expense ratio of 0.95%. The ETP is issued by Iconic Funds BTC ETN GmbH, a subsidiary of Iconic Funds GmbH (collectively branded as "Iconic Funds"). Iconic Funds GmbH is a joint venture of Cryptology and Iconic Holding GmbH.
Structured as a traditional ETP, comparable to Xetra Gold, the Bitcoin ETP aims to remove the technical complications of investing in and holding Bitcoin for investors in an industry-leading cost-effective manner. Each fully Bitcoin-collateralized Note of the ETP represents a claim on a specified amount of Bitcoin, less applicable fees. With the confirmation of listing on Xetra, the Iconic Funds team has begun exploring international listings of the ETP.
"Iconic's mission is to drive the adoption of crypto assets by creating trustworthy investment vehicles for investors to seamlessly gain exposure to the evolving asset class," said Patrick Lowry, CEO of Cryptology and Iconic Funds. "We are elated to see our Bitcoin ETP listed on Germany's flagship market and look forward to working with our partners and regulators to bring more products forward for crypto-hungry investors."