As per the latest announcement, Iconic Funds' Physical Bitcoin ETP will be listed and begin trading on Deutsche Börse's Xetra from May 12, 2021. When compared to the Xetra Gold, the Bitcoin Exchange Traded Product (ETP) can unfasten the technical complications of trading in Bitcoin.
The ETP is issued by Iconic Funds BTC ETN GmbH, a subsidiary of Iconic Funds GmbH. This includes investing in and holding Bitcoin for traders of the industry in a cost-effective manner.
The Exchange-Traded Product ("ETP") is physically backed by Bitcoin. As per the statistics, ETP is the most cost-effective way for investors to gain exposure to Bitcoin on Xetra, with a total expense ratio of 0.95%.
With the confirmation of listing on Xetra, the Iconic Funds team has begun exploring international listings of the ETP.
According to Patrick Lowry, CEO of Iconic Funds,
"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."
The statement from Michael Geister, the newly appointed Iconic's Head of Crypto ETPs, says,
"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. Our Crypto ETPs are designed to meet the highest standards in terms of security, trust, and cost-efficiency. We have teamed up with the most reputable partners to ensure the most robust structure and maximum level of transparency."
Iconic Funds is constant at the forefront of driving crypto-asset adoption. investing in the crypto space since 2017 Iconic Funds have issued one of the EU's first fully licensed crypto-asset index funds in early 2020.