Cryptology Portfolio Company Iconic Funds Receives Approval to Issue and Publicly Offer a Physically Backed Bitcoin ETP in Germany
The approved exchange traded product is applying to list on Deutsche Börse’s Xetra with an expected listing the week of April 26th.
Malta, 20.04.2021. Cryptology Asset Group (ISIN: MT0001770107; Ticker: CAP, formerly 4UD), a leading European investment company for blockchain- and crypto-related business models, is pleased to announce that its portfolio company, Iconic Funds, has received approval in Germany to issue a physically backed Bitcoin ETP. The issuing entity of the Bitcoin ETP is Iconic Funds BTC ETN GmbH, a wholly owned subsidiary of Iconic Funds GmbH (Collectively branded to as “Iconic Funds”).
Iconic Funds is global crypto asset management group headquartered in Frankfurt with teams in New York, Singapore and Dubai. Iconic Funds is perpetually at the forefront of crypto asset adoption, investing in the crypto space since 2017 and having issued one of the EU’s first fully licensed crypto asset index funds in early 2020. By issuing a physically backed Bitcoin ETP – and one of the most cost effective of its kind – Iconic further cements itself as one of the most innovative asset management groups in the world.
Structured as a traditional ETP in the same manner as Xetra Gold, the recently approved Bitcoin ETP aims to remove the technical complications of investing in and holding Bitcoin for investors in an industry-leading cost-effective manner. Each fully Bitcoin-collateralized Note of the ETP represents a claim on a specified amount of Bitcoin, less applicable fees, and will trade under the ticker symbol XBTI with an ISIN of DE000A3GK2N1.
“Bitcoin and the crypto industry as a whole is now being recognized as a bonafide asset class with institutions and investors clamoring for a seamless and familiar way to invest,” said Patrick Lowry, CEO of Cryptology Asset Group and Iconic Funds. “Iconic aims to drive the adoption of crypto assets by creating trust in it for investors. We believe a physically-backed Bitcoin ETP is an optimal way for many investors to gain exposure to Bitcoin and leading crypto assets.”
Cryptology founding investor, Christian Angermayer, said “Investing directly into crypto assets is tricky for institutions and asset managers, as well as retail investors, who don’t have experience with the technology or have compliance restrictions. A physically backed Bitcoin ETP solves this problem for many seeking exposure to Bitcoin and crypto assets through a familiar means of investing.”
Cryptology has been an investor in Iconic Funds since mid-2019. Cryptology shares currently trade on several German exchanges including Börse Düsseldorf, Gettex and Tradegate. In order to increase trading liquidity and open up to new shareholder groups, Cryptology is currently exploring an international listing. The ticker symbol for Cryptology was recently changed from 4UD to CAP.
Please refer to the formal release from Iconic Funds for further information and the prospectus document: https://iconicholding.com/iconic-funds-receives-approval-to-issue-and-publicly-offer-a-physically-backed-bitcoin-etp/. The approval of the Prospectus should not be construed as an endorsement of the securities offered or admitted to trading on a Regulated Market.
About Cryptology Asset Group p.l.c.
Cryptology is a leading European crypto asset and blockchain-related business model investment company. Founded by Christian Angermayer's family office, Apeiron Investment Group and crypto-legend Mike Novogratz, Cryptology is the largest publicly traded holding company for blockchain- and crypto-based business models in Europe. Noteworthy portfolio companies include crypto-giant and EOSIO software publisher Block.one, leading HPC provider Northern Data, commission-free online neobroker nextmarkets, and crypto asset management group Iconic Holding.
Cryptology Asset Group p.l.c.
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