Bitpanda, a cryptocurrency investment system based in Vienna, has launched its initial exchange-traded cryptocurrency note (ETC). The note will track the price of bitcoin as well as be traded in euros.
– Bitpanda, which has a valuation of $4.1 billion, claimed the Bitpanda Bitcoin ETC is noted on Deutsche Boerse’s Xetra market. It plans to add even more crypto ETC products in 2022.
– The Bitpanda Bitcoin and so on is physically backed by bitcoin kept in freezer with a managed custodian. The item is targeting financiers aiming to “diversify their portfolio as well as get access to the world of cryptocurrencies,” Bitpanda stated.
– This year has actually been characterized by the intro of physical cryptocurrency-backed exchange traded products in many jurisdictions, though not in the U.S. Xetra has organized the introduction of products from 21 Shares, And So On Group and also WisdomTree.
– Bitpanda’s very first and so on is an additional diversification step for the business started as a bitcoin exchange in 2014. It has actually considering that expanded past crypto to offer trading in supplies, precious metals and also exchange-traded funds (ETFs) through a mobile app. It has more than 3 million customers.
-” Issuing a completely EU [European Union] based Bitcoin ETC with Euro as base money, we are able to supply exposure to an alternative asset course that we really feel is ripe for possibility in the current market environment,” chief executive officer Eric Demuth stated in a press release.
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