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Bitcoin ETP From Iconic Funds Starts Trading on Deutsche Boerse Xetra Today
Iconic Funds plans to bring more products to the market for “crypto-hungry” investors and is also exploring listings outside of Germany.
Iconic Funds, a German investment-product provider, is listing a bitcoin exchange-traded product (ETP) on Deutsche Boerse’s Xetra market.
STORY CONTINUES BELOW
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- The ETP will begin trading under the ticker “XBTI” on Wednesday with a total expense ratio of 0.95%.
- The product is structured as a traditional ETP and aims to remove the technical complications of investing in and holding bitcoin for investors, the Frankfurt-based firm said.
- Each fully bitcoin-collateralized note of the ETP represents a claim on a specified amount of bitcoin.
- Several crypto ETPs already trade on the Xetra platform, with the most recent launched by 21Shares and asset manager WisdomTree.
- Iconic Funds said it is also exploring listings for XBTI outside Germany.
Read more: 21Shares to List Ethereum, Bitcoin Cash ETPs on Deutsche Boerse’s Xetra
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
