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World's first centrally cleared Bitcoin ETN launched on Xetra

June 18, 2020

World's first centrally cleared Bitcoin ETN launched on Xetra

The BTCetc Bitcoin Exchange Traded Crypto (ISIN: DE000A27Z304) issued by ETC Issuance, which is the world's first centrally cleared Bitcoin tracker, was listed on Xetra today. The Exchange Traded Note (ETN) was admitted to the Regulated Market of the Frankfurt Stock Exchange and is fully collateralised by Bitcoin.

With the new product, investors can easily participate in the performance of the Bitcoin price without having to use unregulated crypto-trading platforms. Separate infrastructure, such as a crypto wallet, is not required," says Michael Krogmann, board member of the Frankfurt Stock Exchange. "With the world's first centrally cleared Bitcoin ETN, we are also setting new standards in the post-trade processing of products on crypto-currencies.

Thanks to central clearing, investors benefit from significantly reduced risks in the settlement of transactions. Clearing is handled by Eurex Clearing, the central counterparty of Deutsche Börse Group.

Bradley Duke, CEO of ETC Group said: “BTCE brings the transparency and investor protection that regulators and institutional investors require to the world of Bitcoin. Investors get the benefits of trading and owning Bitcoin through a regulated security, while having the optionality of redeeming Bitcoin if they choose. We are proud to be listing this product on one of Europe’s top stock exchanges providing people with a safer, better way to invest in Bitcoin.

Name: BTCetc Bitcoin Exchange Traded Crypto

Asset class: ETN

ISIN: DE000A27Z304

Ongoing charges: 2.00 per cent

Reference price: Bitcoin (Bloomberg Cryptocurrency Fixing)

The product offering in Deutsche Börse's ETF and ETP segment currently comprises a total of 1,564 ETFs and 192 ETCs and ETNs. With this selection and an average monthly trading volume of around €13 billion, Xetra is the leading trading venue for ETFs and ETPs in Europe.

Source: Deutsche Börse Cash Market