Iconic Funds Launches Carbon Offseting Initiative for Physical Bitcoin ETP

Investors will now be able to invest in Iconic’s Bitcoin ETP in a more climate-friendly way.

  • Carbon Footprint for Bitcoin ETP will be offset with project-based carbon credits.

  • The transaction-based methodology, developed by Frankfurt School Blockchain Center, is in use.

  • Iconic Funds will have its Co2 footprint periodically recalculated by intas.tech, a spin-off of FSBC and Plutoneo Consulting.

Iconic Funds’ Physical Bitcoin ETP Listing in Paris and Amsterdam on Euronext, Crypto ETP, Bitcoin ETP, Iconic Funds

FRANKFURT AM MAIN GERMANY, November 16, 2021 – Frankfurt-based crypto asset manager, Iconic Funds, is pleased to announce that investors will be able to invest in its crypto ETPs (Exchange Traded Products) in a more climate-friendly way: Iconic Funds will offset the carbon footprint of its flagship Bitcoin ETP, the Iconic Funds Physical Bitcoin ETP, with project-based carbon credits.

This is the start of Iconic’s carbon offseting initiative: “We are committed to implementing this for future offerings as well, so that our product range becomes carbon neutral as much as possible,” says Michael Geister, Head of Crypto ETPs at Iconic Funds. “In our understanding, this is the next stage in the evolution of an alternative, blockchain-based financial system. As an ETP issuer, we want to facilitate climate-smart investing in crypto assets. The consumption-oriented, transaction-based methodology is currently the most transparent method for holders of Bitcoin and users of corresponding blockchains.”

“Iconic’s mission is to drive the adoption of crypto assets by creating trustworthy investment vehicles for investors to enter the evolving asset class unhindered,” emphasises Dominik Poiger, Iconic Funds’ Head of ETP Product Management. To this end, Iconic uses a transaction-based methodology recently developed by the Frankfurt School Blockchain Center (FSBC) to determine the carbon footprint of its Bitcoin ETP. According to the methodology, the Iconic Funds Physical Bitcoin ETP generated a carbon footprint of approximately 37 tonnes of carbon dioxide equivalent (tCO2eq) over the analysed period from April 15th to June 30th 2021.

intas.tech, a spin-off of FSBC and Plutoneo Consulting, periodically recalculates the CO2 footprint for Iconic Funds so these emissions may be offset in the long term. This is accomplished through the purchase of CO2 certificates supporting impact-oriented projects that have been tested and certified by renowned climate and nature conservation groups. One example is the Verra VCS-certified Envira project in the Brazilian Amazon basin, which aims to save up to 200,000 hectares of tropical forest from deforestation. This particular project promotes biodiversity, local communities and new jobs in sustainable agriculture and also offers further training. The project alone is expected to offset around 12.6 million tonnes of CO2 emissions within a period of ten years.

Iconic Funds is a pioneer in the adoption of crypto-assets, investing in the crypto sector since 2017 and launching one of the first fully licensed crypto asset index funds in the EU in early 2020. With the carbon offseting initiative for its Bitcoin ETPs, Iconic is further establishing itself as one of the most innovative crypto asset managers globally.

Product Details Iconic Funds Physical Bitcoin ETP

Product name Iconic Funds Physical Bitcoin ETP
Ticker Xetra / Bloomberg XBTI / XBTI GY
Total Expense Ratio 0.95%
Product Currency USD
Product Structure Physically Replicated
Securities Lending No Lending
Physical Coin Delivery Yes, for private investors
CO2 offsetting With certified climate projects
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 Participants Flow Traders B.V.

Jane Street Financial Ltd. DRW Europa B.V.

Enigma Securities Ltd.

Stock Exchange Listings Deutsche Börse Xetra – 12 May 2021 in EUR

SIX Swiss Exchange – 28 May 2021 in USD

SIX Swiss Exchange – 28 May 2021 in CHF

Euronext Paris – 1 July 2021 in EUR

Euronext Amsterdam – 1 July 2021 in EUR

About the Report “The Carbon Emissions of Bitcoin From an Investor Perspective”

Cover of the research report: The carbon emissions of bitcoin from an investor perspectiveIn this study, the Frankfurt School Blockchain Centre addresses together with intas.tech one of the most impactful criticisms of Bitcoin – its electricity consumption. This study analyzes the current global CO2 footprint caused by the Bitcoin network and outlines a new approach to offset the CO2 emissions.

Download full report







Important Notices:

The ETP described herein is issued by Iconic Funds BTC ETN GmbH. The prospectus for the physically backed Bitcoin ETP is available at https://deutschedigitalassets.com/xbti-iconic-funds-physical-bitcoin-etp/. The approval of this Prospectus should not be construed as an endorsement of the securities offered or admitted to trading on a regulated market. This content is neither an offer nor a solicitation of an offer to purchase securities. The information contained in this document does not constitute investment advice or an investment recommendation. Every care has been taken in the preparation of this document, but errors and omissions excepted. The statements made are based on estimates, economic data, own assessments and forward-looking statements at the time of preparation of the document and are subject to change. Persons into whose possession this document comes must inform themselves about and comply with all applicable laws and regulations. ETPs are subject to numerous risks, including but not limited to general market risks related to underlying adverse price movements, as well as currency, liquidity, operational, legal and regulatory risks.

About Iconic Funds GmbH:

Iconic Funds GmbH is the asset management arm of Iconic Holding GmbH, which manages crypto asset ETPs and diversified index funds through its subsidiaries. Collectively, Iconic Funds GmbH and its subsidiaries are operated under the name “Iconic Funds”. One of these subsidiaries, Iconic Funds BTC ETN GmbH, is the issuer of a physically backed Bitcoin ETP traded on the regulated market of the Frankfurt Stock Exchange (ISIN: DE000A3GK2N1; Ticker: XBTI). Iconic Holding is a portfolio company of FinLab AG (WKN 121806 / ISIN DE0001218063 / Ticker: A7A), the leading German VC group High-Tech Gründerfonds (“HTGF”) and Cryptology Asset Group p.l.c. (ISIN: MT0001770107; Ticker: CAP, formerly 4UD), founded by Christian Angermayer and Mike Novogratz.

Press contact:

[email protected]