Iconic Funds' Physical Bitcoin ETP Listing in Paris and Amsterdam on Euronext
FRANKFURT AM MAIN, GERMANY / ACCESSWIRE / July 2, 2021 / Iconic Funds' Physical Bitcoin ETP (ISIN: DE000A3GK2N1; Ticker: XBTI) will be listed and begin trading on Euronext in Paris and Amsterdam on July 1, 2021. The exchange-traded product ('ETP'), …
FRANKFURT AM MAIN, GERMANY / ACCESSWIRE / July 2, 2021 / Iconic Funds' Physical Bitcoin ETP (ISIN: DE000A3GK2N1; Ticker: XBTI) will be listed and begin trading on Euronext in Paris and Amsterdam on July 1, 2021. The exchange-traded product ('ETP'), physically backed by Bitcoin, becomes the most cost-efficient way for investors to gain exposure to Bitcoin on Euronext 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').
The Bitcoin ETP aims to remove the technical complications of investing in and holding Bitcoin for investors in an industry-leading cost-efficient manner. Each fully Bitcoin-collateralized Note of the ETP represents a specified amount of Bitcoin, less applicable fees. The Physical Bitcoin ETP was listed on Deutsche Börse's Xetra and SIX last month.
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Michael Geister, Iconic's newly appointed Head of Crypto ETPs says, 'Euronext being one of the largest exchanges in Europe is joining the club of Crypto-friendly Exchanges. There is huge and rapidly growing demand from all sorts of investor types who want to Access Crypto Assets via Exchange-Traded Products. A fully regulated, robust, tax-efficient and trusted solution like a Physical-backed ETP is the perfect tool for those investors. Based on the current overall assets under management by all listed Crypto-ETPs, the European market grew to over USD 4 Billion. Key motivation for most of the investors is the store of value idea - Bitcoin as the so-called 'digital Gold' and the positive impact of crypto allocations to traditional portfolios. Iconic Funds, a joint venture of Iconic and Cryptology Asset Group, founded by Christian Angermayer and Mike Novogratz, intends to bring cost-efficient and innovative Crypto investment vehicles to the market.'
Product name |
Iconic Funds Physical Bitcoin ETP |
Valoren |
110570684 |
Bloomberg |
XBTI |
ISIN |
DE000A3GK2N1 |
Total Expense Ratio |