Deutsche Börse welcomes Iconic as new issuer of Crypto ETNs
Deutsche Börse welcomes Iconic as new issuer of Crypto ETNs
Easy access to Bitcoin performance / product with physical collateralisation / central clearing reduces settlement risks
Since Wednesday, a cryptocurrency ETN issued by Iconic has been tradable via Xetra and Börse Frankfurt for the first time.
With the Iconic Funds Physical Bitcoin ETP, investors can easily participate in the performance of the cryptocurrency Bitcoin without having to set up crypto wallets. The exchange traded note (ETN) tracks the NYSE Bitcoin Index and is physically backed by Bitcoin. Through central clearing, investors also benefit from significantly reduced risks in the settlement of transactions.
Name | Asset class | ISIN | Ongoing charges | Reference index |
Iconic Funds Physical Bitcoin ETP | ETN | DE000A3GK2N1 | 0,95 per cent | NYSE Bitcoin Index |
In June last year, Deutsche Börse became the first exchange worldwide to launch trading in centrally cleared crypto products. Investors can now choose from twelve ETNs from five providers on Bitcoin, Bitcoin Cash, Ethereum and Litecoin. As a result, investors no longer have to turn to unregulated trading venues for investments in cryptocurrencies. With an average monthly order book turnover of around one billion euros, Deutsche Börse’s Xetra market is the European market leader in crypto ETN trading.
The product offering in Deutsche Börse's ETF & ETP segment currently comprises a total of 1,647 ETFs and 207 ETCs and ETNs. With this selection and an average monthly trading volume of around €16.5 billion, Xetra is the leading trading venue for ETFs and ETPs in Europe.