The Iconic Physical Bitcoin ETP will be listed on SIX starting May 28, 2021
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With the newly launched ETP, investors can gain exposure to Bitcoin on the Swiss Stock Exchange in a cost-effective way.
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The ETP is 100% collateralized by coins held in an institutional-grade custody solution with Coinbase Custody.
FRANKFURT GERMANY, May 28, 2021 – Iconic Funds’ Physical Bitcoin ETP (ISIN: DE000A3GK2N1; Ticker: XBTI) will be listed and begin trading on the Swiss Stock Exchange on May 28, 2021. The exchange traded product (“ETP”), physically backed by Bitcoin, becomes a cost-efficient way for investors to gain exposure to Bitcoin on SIX 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 earlier this month, making SIX the first international listing for the ETP.
Michael Geister, the newly-appointed Head of Crypto ETPs says ”We are delighted to provide our Bitcoin ETP to swiss-based and international investors who are accessing SIX to gain access to a new and emerging asset class.”
“SIX is the world’s leading exchange for crypto ETPs, so it is a natural fit to list our Physical Bitcoin ETP in Switzerland” said Patrick Lowry, CEO of Iconic Funds and publicly traded Cryptology Asset Group. “Expanding international listings and trading currencies for our ETP is at the top of our priority list, and we are excited by this first step in achieving our goals.”
“Investors looking for collateralized investment products granting access to crypto currencies increasingly turn to the Swiss Stock Exchange. With its wide product offering, SIX is a world leader: 10 different single crypto currencies are accessible via ETPs and structured products on our platform. A warm welcome to Iconic Funds joining our issuer ranks and further expanding the product range”, says Christian Reuss, Head SIX Swiss Exchange, Markets, SIX.
Product Details Iconic Physical Bitcoin ETP
Product name | Iconic Funds Physical Bitcoin ETP |
Valoren | 110570684 |
Bloomberg | XBTI |
ISIN | DE000A3GK2N1 |
Total Expense Ratio | 0.95% |
Base Currency | USD |
Product Structure | Physically replicating |
Securities Lending | No Lending |
Domicile | Germany |
Issuer | Iconic Funds BTC ETN GmbH |
Administrator | State Street Bank International GmbH |
Security Trustee | Bankhaus von der Heydt GmbH & Co. KG |
Custodians | Fidelity Digital Assets Ltd
Coinbase Custody International Ltd |
Market Maker | Flow Traders B.V. |
Authorized Participant(s) | Flow Traders B.V.
Jane Street Financial Ltd. DRW Europe B.V. Enigma Securities Ltd. |
Listing date | Deutsche Börse Xetra – May 12, 2021
SIX – May 28, 2021 |
Important Notices:
This notice does not constitute an offer to sell securities, nor is it a solicitation or an offer to buy securities in any jurisdiction in which such offer or solicitation is unlawful. This notice does not constitute an offer of securities for sale in the United States and the securities referred to in this notice may not be offered or sold in the United States absent registration or an exemption from registration.
This notice may contain forward-looking information within the meaning of applicable securities legislation, including with respect to the expected offering size, the terms of the Notes including the anticipating timing for the pricing and settlement date and the listing of the Notes on Regulated Markets. Forward looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Iconic Fund’s control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, capital markets conditions and the ability to successfully market the Notes, global and local economic and business conditions. All forward-looking information in this notice speaks as of the date of this notice. Iconic Funds does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise except as required by law. Additional information about these assumptions and risks and uncertainties is contained in Iconic Fund’s filings with securities regulators, including its latest annual information form and MD&A. These filings are also available at Iconic Fund’s website at https://deutschedastg.
The price performance of cryptocurrencies is highly volatile and unpredictable and past price performance is no guarantee of future price performance.
The approval of the Prospectus should not be construed as an endorsement of the securities offered or admitted to trading on a Regulated Market. Prospective investors should read the Prospectus before making any investment decision in order to fully understand the potential risks and rewards of deciding to invest in the securities.
The prospectus and all supplements to the prospectus is available at https://deutschedigitalassets.com/xbti-iconic-funds-physical-bitcoin-etp/.
About Iconic Funds BTC ETN GmbH:
Iconic Funds BTC ETN GmbH is a wholly owned subsidiary of Iconic Funds GmbH and the issuer of a physically backed Bitcoin Exchange Traded Product (“ETP”) (ISIN: DE000A3GK2N1; Ticker: XBTI). Iconic Funds GmbH is the holding company of a series of subsidiaries that manage and issue crypto asset investment products. Collectively, Iconic Funds GmbH and its subsidiaries are branded as “Iconic Funds.” Iconic Funds is a joint venture between Iconic Holding GmbH and Cryptology Asset Group p.l.c. (ISIN: MT0001770107; Ticker: CAP, formerly 4UD). Iconic Holding is a portfolio company of FinLab AG (WKN 121806 / ISIN DE0001218063 / Ticker: A7A), leading German-VC group High-Tech Gründerfonds (“HTGF”), Cryptology Asset Group p.l.c. (ISIN: MT0001770107; Ticker: CAP), founded by Christian Angermayer and Mike Novogratz, and Titania Investment Group OÜ.
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