USD tranche of EQONEX Bitcoin Exchange Traded
Note
(ETN) is available on Deutsche Börse XETRA Exchange
from today
- The EQONEX physically backed USD Bitcoin ETN (Ticker: EQ1C)
offers investors direct exposure to bitcoin via an exchange-traded
product
- Investors to benefit from free redemptions for the underlying
bitcoin and low management fees
- Underlying Bitcoin is stored in EQONEX's accredited custody
provider, Digivault
FRANKFURT, Germany, Sept. 16,
2022 /PRNewswire/ -- EQONEX Limited (NASDAQ:
EQOS) (the Group), a digital assets financial services company, is
expanding its Investment Product offering with a USD denominated
Bitcoin Exchange-Traded Note (ETN) available on the Deutsche Börse
XETRA Exchange from today.
The USD denominated EQONEX Bitcoin ETN follows hot on the
footsteps of the inaugural Euro denominated version launched
in July. EQONEX received ETN prospectus approval from
Germany's Federal Financial
Supervisory Authority (BaFin) and has a roadmap to offer a suite of
crypto exchange-traded products in the near future.
EQONEX Bitcoin ETNs provide direct investment exposure to
bitcoin via an exchange-traded, physically-backed product.
Investors can trade in and out of ETNs via their existing brokerage
accounts with Euro or USD. The bitcoin underlying the ETN will be
stored in the group's Financial Conduct Authority (FCA) registered
custody provider Digivault, which is one of only 35 exchange or
custody providers to hold this accreditation.
Frank Copplestone, EQONEX Head of Investment Products said, "We
were excited to offer our first Euro denominated Bitcoin ETN
earlier this year. For many, the USD remains a default investment
currency, so we were eager to prioritise a USD version which also
bears our hallmark benefits such as free redemptions and secure
custody".
"Exchange-traded products provide investors with a familiar
access point for gaining exposure to new asset classes such as
bitcoin and we are looking forward to building out a multi-currency
offering."
Distinct from some other issuers, EQONEX embeds an additional
investor protection by holding the underlying physical bitcoin in a
segregated account under a Security Trustee structure, ensuring it
is not used for rehypothecation.
The bitcoin underpinning the EQONEX Bitcoin ETN is held in
Digivault which means it is tested to ensure that it is legitimate
and has not been tainted by money laundering or criminal
activity.
Flow Traders B.V. will register with Deutsche Börse to perform
the role of EQONEX's Designated Sponsor which requires the
fulfilment of certain stringent quality criteria regarding tradable
volumes and bid-ask spreads.
About EQONEX
EQONEX Limited (NASDAQ: EQOS) is a technology-driven digital
assets financial services group that provides institutional grade
infrastructure and a full suite of custody and asset management
solutions to clients. The Group's digital assets ecosystem has been
designed to accommodate the needs of institutions and individuals
with the same degree of regulatory oversight and security they are
accustomed to in traditional financial markets. EQONEX's ecosystem
includes Digivault, an FCA- registered custodian, Asset Management
which encompasses investment products, and Bletchley Park, a fund
of crypto-hedge funds. EQONEX also offers OTC and lending services
and soon-to-be –launched Structured Products business.
For more information visit: https://group.eqonex.com/
Forward-Looking Information
Any forward-looking statements in this press release are based
on available current market material and management's expectations,
beliefs and forecasts concerning future events impacting
EQONEX. You are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, as well as assumptions, which, if they
were to ever materialize or prove incorrect, could cause the
results of EQONEX to differ materially from those expressed or
implied by such forward-looking statements. The
forward-looking statements made in this press release speak only as
of the date hereof and we disclaim any obligation, except as
required by law, to provide updates, revisions or amendments to any
forward-looking statements to reflect changes in our expectations
or future events.
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SOURCE EQONEX