Bitcoin ETP From Iconic Funds Starts Trading on Deutsche Boerse Xetra Today

Iconic Funds plans to bring more products to the market for “crypto-hungry” investors and is also exploring listings outside of Germany.

May 12, 2021, 8:52 AM

Updated Aug 19, 2021, 9:21 AM

Election 2024 coverage presented by

Iconic Funds, a German investment-product provider, is listing a bitcoin exchange-traded product (ETP) on Deutsche Boerse’s Xetra market.

The ETP will begin trading under the ticker “XBTI” on Wednesday with a total expense ratio of 0.95%.
The product is structured as a traditional ETP and aims to remove the technical complications of investing in and holding bitcoin for investors, the Frankfurt-based firm said.
Each fully bitcoin-collateralized note of the ETP represents a claim on a specified amount of bitcoin.
Several crypto ETPs already trade on the Xetra platform, with the most recent launched by 21Shares and asset manager WisdomTree.
Iconic Funds said it is also exploring listings for XBTI outside Germany.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.

Tanzeel Akhtar

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

Read more about