EQONEX expands its Investment Product offering with multi-currency Exchange-Traded Notes
EQONEX Limited (NASDAQ: EQOS) has launched a USD-denominated Bitcoin Exchange-Traded Note (ETN), available on Deutsche Börse XETRA Exchange. This physically-backed ETN allows investors direct exposure to Bitcoin, featuring benefits like free redemptions and low management fees. The underlying Bitcoin is secured with Digivault, a regulated custody provider. With regulatory approval from Germany's BaFin, EQONEX aims to expand its crypto product offering, ensuring investor protection through a segregated account structure for the physical Bitcoin. The move follows the successful launch of a Euro version earlier this year.
- Launch of USD-denominated Bitcoin ETN on Deutsche Börse XETRA Exchange.
- Direct exposure to Bitcoin with low management fees and free redemptions.
- Physical Bitcoin secured with accredited custody provider Digivault.
- Regulatory approval from Germany's BaFin for product offerings.
- None.
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.
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
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