Iconic Physical ApeCoin ETP (ISIN: DE000A3GYNY2; WKN: A3GYNY) is listed and begins trading on Börse Stuttgart on June 15, 2022.
The exchange traded product (“ETP”), physically backed by ApeCoin, becomes the world’s first ApeCoin ETP and the most cost-effective way for investors to gain exposure to ApeCoin with a total expense ratio of 1.49%. The ETP is issued by Iconic Digital Assets AG, a subsidiary of Iconic Funds GmbH (collectively branded as “Iconic Funds”).
The Iconic Physical ApeCoin ETP tracks the spot price of ApeCoin via the CMBI ApeCoin Index. The ETP is 100% collateralized by coins held in an institutional-grade custody solution with Coinbase Custody (“Coinbase Germany GmbH”). Coinbase Custody offers the most trusted cold storage custody solution for institutions. State Street Bank, one of the world’s leading Fund Administrators groups and administrator of Iconic’s other ETPs, will also serve as the ApeCoin ETP administrator.
Michael Geister, Head of Crypto ETPs at Iconic, said: ”The Iconic Physical ApeCoin ETP will provide exposure to the ecosystem built around the Bored and Mutant Ape Yacht Club NFTs developed by Yuga Labs. BAYC (Bored Ape Yacht Club) is one of the most valuable NFT collections available made famous by stars like Make Cuban or Serena Williams. Through ApeCoin investors have access to the growing NFT market.”
Iconic ETPs are designed to meet the highest institutional-grade standards in terms of security, trust and cost efficiency. Through Iconic ETPs, European investors can access crypto assets in a familiar manner by investing through trusted investment vehicles at industry-leading costs. Like other Iconic crypto ETPs, individual investors in the Iconic Physical ApeCoin ETP can apply for the physical delivery option.
The new listing complements Iconic’ offering of crypto exchange traded products including physically backed Bitcoin ETP (XBTI, ISIN: DE000A3GK2N1), physically backed Ethereum ETP (IETH, ISIN: DE000A3GTML1, physically backed EOS ETP (IEOS, ISIN: DE000A3GWSL2) on multiple European exchanges. Crypto ETP provider Iconic Funds notes that the Iconic Physical ApeCoin ETP is just one of many further expanding product range of ETPs physically backed by crypto assets.
Patrick Lowry, CEO of Iconic, said: “Crypto is still in the early innings of adoption. Iconic’s vision is to be investors’ trusted partner for accessing the crypto market through our traditional investment vehicles. We look forward to issuing additional, highly innovative crypto ETPs in the near future, as well as partnering with incumbent financial institutions for white-labeled crypto ETP products.”
Product Details
| Product name | Iconic Physical ApeCoin ETP |
| Ticker Stuttgart / Bloomberg | IAPE / IAPE GS |
| ISIN / WKN | DE000A3GYNY2 / A3GYNY |
| TER | 1.49% |
| Base Currency | USD |
| Underlying | ApeCoin (CMBI ApeCoin Index) |
| Product Structure | Physically replicating |
| Index Provider | Coin Metrics Bletchley Indexes |
| Domicile | Liechtenstein |
| Issuer | Iconic Digital Assets AG |
| Administrator | State Street Bank International GmbH |
| Security Trustee | Bankhaus von der Heydt GmbH & Co. KG |
| Custodian(s) | Coinbase Germany GmbH |
| Authorized Participant(s) | Flow Traders B.V.
Jane Street Financial Ltd. DRW Europe B.V. Bluefin Europe LLP Goldenberg Hehmeyer LLP |
| Launch date | 26 May 2022 |
| Stuttgart Listing Date | 15 June 2022 |
Iconic’s Recent Research Reports
- Cryptocurrencies and the Sharpe Ratio of Traditional Investment Models ➡ Download here
- Analyzing the Primary Value Drivers of Leading Cryptocurrencies ➡ Download here
- How Effective are Common Investment Strategies with Bitcoin? ➡ Download here
- Investigating the Myth of Zero Correlation Between Crypto Currencies and Market Indices ➡ Download here
For further information, please visit deutschedastg
Important Notices
This article represents solely a non-binding preliminary information which serves exclusively advertising purposes. It is not a prospectus in the sense of the Regulation (EU) 2017/1129(Prospectus Regulation) and the German Securities Prospectus Act (Wertpapierprospektgesetz – WpPG). It 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.
Risk Considerations
The price of an investment in an Iconic ETP may go up or down and the investor may not get back the amount invested. The price performance of cryptocurrencies is highly volatile and unpredictable. Past performance is hence no guarantee of future performance. You agree to do your own research and due diligence before making any investment decision with respect to securities or investment opportunities discussed herein. The approval of the prospectus should not be construed as an endorsement of the securities offered or admitted to trading on a Regulated Market. These are not extensive risk considerations. 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 is available at https://deutschedigitalassets.com/iape-iconic-physical-apecoin-etp
