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

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

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 – The DDA Bitcoin Macro ETP replicates the performance of the underlying index and gives 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 a specialized custodian (Coinbase). Investors do not require the technical expertise to manage several wallets and private keys.

Trades like an ETF on European Exchanges – The ETP trades like a stock or an ETF and is available on Deutsche Börse Xetra. 

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

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.