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EQONEX launches crypto exchange-traded product in Germany

Wednesday 13 July 2022 12:33 CET | News

Singapore-based EQONEX, a digital assets financial services company, has launched on the Deutsche Börse XETRA Exchange with a listing of a Bitcoin Exchange-Traded Note (ETN).   

Following the approval from Germany's Federal Financial Supervisory Authority (BaFin) for the ETN prospectus, the EQONEX Bitcoin ETN is the group's debut exchange-traded product, with a pipeline of crypto investment and structured products earmarked for launch in the second half of 2022.

The EQONEX Bitcoin ETN provides direct investment exposure to Bitcoin via an exchange-traded, physically backed product. Investors can trade in and out of the ETN via their existing brokerage accounts and will be able to redeem the underlying Bitcoin for free using a Digivault custody account. The EQONEX Bitcoin ETN is available only to German-resident investors.

The Bitcoin underlying the ETN will be stored in the group's Financial Conduct Authority (FCA) registered custody provider Digivault and is Chainalysis-tested to ensure that it is legitimate and has not been tainted by money laundering or criminal activity.

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Keywords: product launch, cryptocurrency, investment, Bitcoin
Categories: DeFi & Crypto & Web3
Companies: EQONEX
Countries: Germany
This article is part of category

DeFi & Crypto & Web3

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EQONEX

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