BMAC – DDA Bitcoin Macro ETP

Product Description

The DDA Bitcoin Macro ETP (Ticker: BMAC) is an exchange traded product (ETP) that tracks the price of the DDA Bitcoin Macro Allocation Index (“DDAMACRO”). The ETP is 100% physically backed by a basket of cryptocurrencies composing the index and is held in “cold storage” at a regulated custodian. Each ETP gives the holder a claim on the underlying (basket of cryptocurrencies).

The DDA Bitcoin Macro ETP provides a dynamic systematic exposure between BTC and USDC. It uses the main macroeconomic factors to modulate its exposure to Bitcoin and better manage its risk over the long term.

• Physically backed by the underlying and stored in so called cold storage at a regulated custodian
• Management fee of 2.00% p.a.
• Listed and traded on Deutsche Boerse Xetra
• Lending & Staking: Yield enhancement through staking and lending of the ETP assets – all staking and lending returns (ex fees) accrue to the NAV

Product Benefits

Access to The World’s First Bitcoin ETP Based on Macro Factors

The DDA Bitcoin Macro ETP offers investors exposure to the World’s First Bitcoin ETP that dynamically adjusts Bitcoin exposure based on macroeconomic factors. Find out more about the methodology here.

100% Physically Backed and Secured 

DDA ETPs replicate the performance of the underlying index with competitive management fees and give the holder of the note a claim on the predefined amount of the asset.

Regulated and trusted Custody Solutions

Digital assets are conveniently stored at specialized custodians such as BaFin-regulated Coinbase Germany GmbH or French AFM-regulated Aplo. Investors do not require the technical expertise to manage several wallets and private keys.

Trades like an ETF on European Exchanges

The DDA ETPs trade like a stock or an ETF and are available on European stock exchanges, such as Deutsche Börse Xetra, Euronext Paris & Amsterdam, SIX Swiss Exchange and Börse Stuttgart.

Tax free after one year holding period

DDA crypto ETPs are tax-free for German private investors after a one-year holding period.¹

Pricing Information

Each Note is backed by the following cryptocurrencies at launch: 0.0001 BTC, 0 USDC

Please note: The composition of the basket changes as the index is rebalanced. A rebalancing can occur on a daily basis depending on the quantitative signal by the market. Read more about the index, its underlying model and the methodology here:

• Index
• Index methodology
• Underlying research

Key Risks

Investors’ capital is at risk and investors may not get back the amount originally invested. The ETP is structured as fully collateralized debt security, not as equity. The ETP traded on exchanges are bought/sold at market prices which may be different to the net asset value of the ETP or the composition of the basket of cryptocurrencies. Investor’s capital is at risk and investors may not get back the amount originally invested and should obtain independent advice before making a decision. Any decision to invest should be based on the information contained in the relevant prospectus. ETP securities are structured as debt securities, not as funds. ETPs trade on exchanges like securities. They are bought/sold at market prices which may be different to the net asset value of the ETP.

Physical Delivery Option for Retail Investors

A Holder can only exercise its termination right through an Authorized Participant, if he qualifies in accordance with client acceptance policies of the respective Authorized Participant (which the Issuer has no influence over). The termination can be exercised through any Authorized Participant whether or not the Notes were acquired through the Authorized Participant receiving the notice or acquired through a secondary market. In such case, the Notes will be redeemed in the underlying to the Digital Wallet of the Holder, unless a Holder is prevented from receiving the underlying for legal or regulatory reasons (such as Undertakings for Collective Investment in Transferable Securities (UCITS) within the meaning of Article 1 of the Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009). In such cases the Holder, acting through an Authorized Participant, may demand redemption in USD and EUR in which case the underlying will be converted into USD or EUR in accordance with the relevant provisions of the Terms and Conditions on a date fixed for redemption.
If you are interested in the physical delivery option, please reach out to: [email protected].

About the Issuer

DDA ETP AG is a wholly owned subsidiary of DDA Europe GmbH and the issuer of a physically backed Ethereum Exchange Traded Product (“ETP”) (ISIN: DE000A3GTML1; Ticker: IETH). DDA Europe GmbH is the holding company of a series of subsidiaries that manage and issue crypto asset investment products. Collectively, DDA Europe GmbH and its subsidiaries are branded as “DDA”. DDA is the bridge to passive and actively managed exposure to crypto. DDA, via its subsidiaries, offers crypto asset ETP’s, diversified index funds and alpha-seeking strategies for investors in a familiar and regulated manner.