Eurex Clearing services first centrally cleared Bitcoin ETN
19 June 2020 Frankfurt
Image: WitOlszewski/Shutterstock
Eurex Clearing, the central counterparty of Deutsche Börse Group, is providing clearing services to the world’s first centrally cleared Bitcoin exchange-traded notes (ETN).
The new service will allow investors to benefit from significantly reduced risks in the settlement of transactions.
The BTCetc Bitcoin Exchange Traded Crypto issued by ETC Issuance, which is the world's first centrally cleared Bitcoin tracker, was listed on Xetra.
The ETN was admitted to the regulated market of the Frankfurt stock exchange and is fully collateralised by Bitcoin.
Michael Krogmann, board member of the Frankfurt Stock Exchange, said: “With the new product, investors can easily participate in the performance of the Bitcoin price without having to use unregulated crypto-trading platforms. Separate infrastructure, such as a crypto wallet, is not required.”
He continued: "With the world's first centrally cleared Bitcoin ETN, we are also setting new standards in the post-trade processing of products on crypto-currencies.”
Bradley Duke, CEO of ETC Group added: “BTCE brings the transparency and investor protection that regulators and institutional investors require to the world of Bitcoin. Investors get the benefits of trading and owning Bitcoin through a regulated security, while having the optionality of redeeming Bitcoin if they choose. We are proud to be listing this product on one of Europe’s top stock exchanges providing people with a safer, better way to invest in Bitcoin.”
The new service will allow investors to benefit from significantly reduced risks in the settlement of transactions.
The BTCetc Bitcoin Exchange Traded Crypto issued by ETC Issuance, which is the world's first centrally cleared Bitcoin tracker, was listed on Xetra.
The ETN was admitted to the regulated market of the Frankfurt stock exchange and is fully collateralised by Bitcoin.
Michael Krogmann, board member of the Frankfurt Stock Exchange, said: “With the new product, investors can easily participate in the performance of the Bitcoin price without having to use unregulated crypto-trading platforms. Separate infrastructure, such as a crypto wallet, is not required.”
He continued: "With the world's first centrally cleared Bitcoin ETN, we are also setting new standards in the post-trade processing of products on crypto-currencies.”
Bradley Duke, CEO of ETC Group added: “BTCE brings the transparency and investor protection that regulators and institutional investors require to the world of Bitcoin. Investors get the benefits of trading and owning Bitcoin through a regulated security, while having the optionality of redeeming Bitcoin if they choose. We are proud to be listing this product on one of Europe’s top stock exchanges providing people with a safer, better way to invest in Bitcoin.”
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