Bitcoin is unlike anything else that has seen the financial world in the past. So it’s no wonder that some already speak of a financial Revolution is in full swing. However, for institutional investors and private individuals, the entry is often difficult. Anyone who has to work no desire in Private – and Public-Key encryption and a different Wallet types, but to simply invest in a classic financial product, he gets in his Bank or in the stock market has been disappointed so far. However, a German Startup that creates now what was thought impossible: Iconic would like to bring in December, a Bitcoin ETN out.
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Bitcoin ETN in close proximity to
The German Crypto-Startup “Iconic” would already towards the end of this year, specifically on March 2. December, a classic financial product on the market, the investors 1:1 to the value of Bitcoin allowing them to participate.This financial product is not, unfortunately, a long-awaited Bitcoin ETF that is rejected in Europe, as well as the United States continues to be from the regulators (like the SEC). Rather, it is a Bitcoin ETN (engl. exchange-traded note). Between an ETF and an ETN, there are small but subtle differences: for example, the money does not count in a ETN to the special assets of the issuing company.Nevertheless, the Bitcoin ETN to participate according to the prospectus of the financial product of the same purpose as a Bitcoin ETF: institutional and private investors, 1:1 to the value of Bitcoin without having to own Bitcoin to buy. The BTC ETN to be listed even on the Frankfurt and Luxembourg stock exchange. The in the Background with the investment funds of the customers purchased Bitcoin to be managed by the Custody Service from Coinbase.Trading on our brokers comparison-winning eToro. You are looking for a reliable and intuitive Broker to trade crypto-currencies, CFDs, shares, Forex, commodities and more? Then let yourself be in our eToro Test in 2019 all of the features explain, what possibilities are given to you here and where is here the Before – and disadvantages are . eToro Test 2019 read now.
Iconic optimistic
The Iconic CEO Patrick Lowry is to be optimistic and emphasized that his company seems to create what appears to be in the USA thanks to the SEC’s impossible:
Financial institutions and investors have been calling for many years for a simple way to invest in Bitcoin and other crypto-assets. So far, they had no institutional product in order to do that. (…) Iconic has now developed a similar investment product (such as a Bitcoin ETF) in Europe and is pleased to be able to it on the regulated markets in Luxembourg and Frankfurt offer.
It is also noteworthy that the Bitcoin ETN, if he should actually be in Frankfurt listed, would be listed on the XETRA, the digital Arm of the Frankfurt stock exchange. This is the largest of the German regulated stock market trading course. As a Basis for the development in the value of the BTC ETN the NYXBT-Index, so the Bitcoin Index of the New York Stock Exchange (NYSE) is to be used.
Experts are impressed
Some experts in Crypto and Blockchain are impressed by the announcements of Iconic. So Philipp Sander, the head of the Blockchain Center of the Frankfurt School of Finance and Management says:
Iconic has convinced both the regulatory authorities as well as the German stock exchange. The Listing of your Bitcoin product on the Frankfurt stock exchange is a remarkable step. (…) A true-Bitcoin-ETF Europe is thus a significant step closer.
It remains to be seen whether the projects and the announcements of Iconic be actually implemented 1:1. It wouldn’t be the first Time in the Crypto-world, that there is only Hype, to come back and then back to the bottom of the facts. But if it should so happen, as the Crypto-Startup reported, this is a very bullishes Signal for the Bitcoin exchange rate.
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