A New physically nacked Bitcoin ETN just launched in Germany

Eqonex, a company that deals in digital assets, has said that its first investment product will be a bitcoin exchange-traded note (ETN).

The Eqonex BTC Tracker (EQ1B), which is traded on the Deutsche Boerse, has a total expense ratio (TER) of 0.89 percent.

EQ1B is a note that is physically backed by bitcoin and has an initial ratio of 0.001% of bitcoin per note. At the moment, only investors who live in Germany can buy these notes.

Digivault will be in charge of keeping EQ1B safe. This means that investors can always get back all the money they put into bitcoin.

Eqonex says that the real bitcoins will be kept in a separate account that will be run by a security trustee. This will remove any risk that might have come with collateral.

The company that made EQ1B said it was the first in a “pipeline” of crypto investment and structured products that would be released in the second half of 2022.

Frank Copplestone, head of investment products at Eqonex, said, “The launch of our investment products business is an important step for the company because it means we’ll be able to offer our clients in Germany and, in the future, in other international markets, a wider range of investment opportunities.” “The launch of our investment products business is a big step for the company because it means we can offer our German clients a wider range of ways to invest.”

Also, Jonathan Farnell, CEO of Eqonex, said, “Germany is a perfect strategic launchpad for our investment products company because its investors are smart and well educated.”

We think that the German market is a great place to try out what we think will be a growing number of ETPs from Eqonext.

The ETN is the most recent thing to happen in the last few months that has to do with cryptocurrencies. Last month, 21Shares put out the 21Shares Bitcoin Core ETP (CBTC), which is part of its new crypto winter range. This range is meant to help investors get through the bear market. This is the lowest bitcoin ETP backed by real assets in the world.

This month, Jacobi Asset Management said it would start Europe’s first bitcoin exchange-traded fund (ETF) in October 2021. It will be called the Jacobi Bitcoin ETF (BCOIN), and the Guernsey Financial Services Commission will be in charge of how it works (GFSC).

Bitcoin’s value has dropped by 57.4% so far this year, and earlier this month it briefly fell below a key price point of $20,000. This was the worst time in the last 18 months for cryptocurrency.

A press release says that the German financial services company EQONEX Limited has released its first product for investors. It is a new exchange-traded note (ETN) that is backed by real assets and traded on the Deutsche Borse XETRA Exchange.

With the EQONEX Bitcoin ETN, German investors can trade back and forth between the asset and regular brokerage services. Through a Digivault custody account, investors can also get real bitcoin for free.

The Financial Conduct Authority (FCA) has approved Digivault as a registered custody provider for digital assets, making it one of only 35 companies or organizations in the world to have this certification right now.

Even though these services will only be available in Germany at first, EQONEX plans to make a more complete set of solutions that can be used all over the world.

The CEO of EQONEX, Jonathan Farnell, said, “We think a German market is a good place for EQONEX exchange-traded products, and we expect their number to grow.”

“The opening of our Investment Product division is a big step for the company because it means we’ll be focusing more on giving our customers in Germany and, in the future, other countries a wider range of investment options”

Also, EQONEX wants to make sure that Digivault, which is its custodial provider, gives its investors an extra level of safety. This is because the company will have a separate account for the physical bitcoins we talked about earlier. This stops the bitcoins from ever being used as collateral again. EQONEX also worked with the on-chain analysis company Chainalysis to make sure that the bitcoins they own have not been used for illegal things like money laundering or other wrongdoing.

Sneha Shukla

Hello, This is Sneha and I am the owner of www.fullformx.com Thank you for visiting our site. Here I am creating this site only focusing to help people, also, I have 4 years' experience in this field. for quality, information stay connected with our site. Thank you

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