DDA Physical Bitcoin ETP

DDA Physical Bitcoin ETP (Ticker: XBTI) is an exchange traded product (ETP) that tracks the price of Bitcoin (BTC).

Product details
Type:Exchange Traded Note (100% collateralized
ExchangesDeutsche Boerse Xetra, SIX Swiss Exchange, Euronext Paris and Amsterdam
Trading CurrencyEUR, USD, CHF
Exchange TickerXBTI
ISINDE000A3GK2N1
WKNA3GK2N
SEDOLBKY5G79
VALOR110570684
BloombergXBTI GY
RIC (Reuters)XBTI.DE
Key facts
As of Date30.11.2022
Base CurrencyUSD
Inception Date15.02.2021
DomicileGermany
Net Asset Value (USD)**3.2M
Total Expense Ratio0.95%
Replication MethodPhysically Allocated Bitcoin (100% collateralized)
Notes Outstanding**1,923,000
UCITS CompliantNo
UCITS EligibleEligible*
Product StructureETP – Physically Backed by Bitcoins (100% collateralized)
Securities LendingNo
Legal FormDebt Security (100% collateralized)
IssuerDDA ETP GmbH
AdministratorState Street Bank International GmbH
Security TrusteeBankhaus von der Heydt GmbH & Co. KG
CustodiansCoinbase Germany GmbH
RegistrarClearstream Banking AG
Registered for saleAustria, Germany, the Netherlands, Norway, Sweden, Italy, France, Estonia, Poland, Slovakia, Spain, Finland, Greece, Portugal, Slovenia, the Czech Republic, Denmark, Austria, Belgium, Cyprus, Ireland, Switzerland, Liechtenstein, Luxembourg and Malta
Product Description

DDA Physical Bitcoin ETP (Ticker: XBTI) is an exchange traded product (ETP) that tracks the price of Bitcoin (BTC). The ETP is 100% physically backed by BTC. Each ETP gives the holder a claim on a predefined amount of BTC. 

  • Physically backed by Bitcoin and stored in so called cold storages, highly regulated and trusted crypto custodians with an additional 3rd Party insurance
  • Competitive management fee of 0.95% p.a.
  • Listed and traded on Deutsche Börse Xetra, SIX Swiss Exchange, Euronext Paris and Amsterdam
  • No lending – Bitcoin held in custody and not lent out
  • Deutsche Digital Assets is a German Company and the product is “Made in Germany”
Pricing Information

Bitcoin Entitlement (Bitcoin Factor): Each Note is backed by 0.0001 Bitcoin at launch.

Price: Bitcoin Entitlement (Bitcoin Factor) x Bitcoin price

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 Bitcoin

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 BTC to the Digital Wallet of the Holder, unless a Holder is prevented from receiving BTC 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 BTC 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 GmbH is a wholly owned subsidiary of DDA Europe GmbH and the issuer of a physically backed Bitcoin Exchange Traded Product (“ETP”) (ISIN: DE000A3GK2N1; Ticker: XBTI). 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. 

Composition of the product

The underlying of the Notes is Bitcoin, commonly known by the ticker symbol BTC. BTC was the first decentralised cryptocurrency. It was released as open-source software in 2009. BTC was developed to secure payment transactions over a peer-to-peer network (blockchain). The intention of the creation of BTC is to bridge the need for a trusted third party, to democratize the monetary system and ensure the anonymity of transactions made through the blockchain. In contrast to traditional currencies where governments or central banks have the power to increase the money supply at will, the supply of bitcoin is capped at 21 million units hardwired within its codebase. Despite the emergence of many alternative cryptocurrencies Bitcoin still remains the largest cryptocurrency in terms of market capitalization and user acceptance.

BTC (Bitcoin)
100%

15.04.21 – Change in Fees Resolution

10.05.21 – Prospectus Supplement

12.08.21 – Second Prospectus Supplement

30.09.21 – Iconic Funds BTC ETN GmbH: Preliminary announcement of the publication of financial reports according to Articles 114, 115, 117 of the WpHG [the German Securities Act]

25.03.22 – Preliminary announcement of the publication of financial reports 2021 according to Articles 114, 115, 117 of the WpHG [the German Securities Act]

31.03.22 – Correction of Iconic Funds BTC ETN GmbH: Preliminary announcement of the publication of financial reports according to Articles 114, 115, 117 of the WpHG [the German Securities Act] published on 25.03.2022

22.04.22 – Iconic Funds BTC ETN GmbH: Preliminary announcement of the publication of financial reports according to Articles 114, 115, 117 of the WpHG [the German Securities Act] 

29.04.22 – Iconic Funds BTC ETN GmbH: publication of financial reports according to Articles 114, 115, 117 of the WpHG [the German Securities Act] (DE)

29.04.22 – Iconic Funds BTC ETN GmbH: publication of financial reports according to Articles 114, 115, 117 of the WpHG [the German Securities Act] (EN)

23.09.22 – Iconic Funds BTC ETN GmbH: Iconic Funds BTC ETN GmbH: Vorabbekanntmachung über die Veröffentlichung von Finanzberichten gemäß § 114, 115, 117 WphG

23.09.22 – Iconic Funds BTC ETN GmbH: Preliminary announcement of the publication of financial reports according to Articles 114, 115, 117 of the WpHG [the German Securities Act]

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