Iconic Funds' Physical Bitcoin ETP has been listed on Deutsche Börse's Xetra and begins trading today, May 12th. ETP, the exchange-traded product, is physically backed by Bitcoin and has a total expense ratio of 0.95%.
ETP has become a cost-effective method to gain exposure to Bitcoin. It is issued by a subsidiary of Iconic Funds GmbH, the Iconic Funds BTC ETN GmbH, and is collectively known as Iconic Funds.
Invest In Bitcoin, Cost-Effectively
The Bitcoin ETP is similar to the traditional ETP and can be compared to Xetra Gold. It aims to remove the technical complications surrounding the investing and holding of Bitcoin cost-effectively. A fully collateralized note of the ETP represents the value of a specified amount of Bitcoin and has lower fees applicable. Now that the listing is confirmed on Xetra, Iconic Funds will begin exploring international listings for ETP.
Patrick Lowry, CEO of Iconic Funds and publicly traded Cryptology Asset Group, said,
"Iconic's mission is to drive the adoption of crypto assets by creating trustworthy investment vehicles for investors to seamlessly gain exposure to the evolving asset class. We are elated to see our Bitcoin ETP listed on Germany's flagship market and look forward to working with our partners and regulators to bring more products forward for crypto-hungry investors."
Iconic Funds At Forefront Of Crypto Adoption
Iconic Funds has been investing in the crypto space since 2017. In early 2020, it issued one of the EU's first fully licensed crypto-asset index funds. Iconic has established itself as an innovative asset manager by issuing the physically-backed Bitcoin ETP.
Michael Geister, Iconic's newly appointed Head of Crypto ETPs, stated
"Iconic is a pioneer in the crypto-asset ecosystem due to its history as an investor in blockchain and crypto companies and as regulated manager of crypto investment products. To me, it's a natural step for Iconic Funds to expand its product range by offering physically-backed crypto ETPs."
He further adds that Iconic's crypto ETPs are designed to meet the highest security, trust, and cost-efficiency standards. The team at Iconic consists of reputed partners who ensure a robust structure with a maximum level of transparency.
About Iconic Funds BTC ETN GmbH
Iconic Funds GmbH was launched in 2019 and is the holding company of a series of subsidiaries that manage and issue crypto asset index investment products. It offers passive and diversified exposure for investors. Iconic Funds GmbH and its subsidiaries are collectively branded as "Iconic Funds."
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.