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VanEck lists Bitcoin ETN on Deutsche Börse

News Team, 25/11/2020

Asset Manager VanEck today announced the listing of the VanEck Vector Bitcoin ETN on Deutsche Börse Xetra. The product allows investors to participate in the performance of the cryptocurrency Bitcoin, without having to buy it themselves.

“Bitcoin's low correlation to other asset classes makes it an excellent way to contribute to the diversification of a portfolio,” said Martijn Rozemuller, Head of Europe at VanEck. “With our VanEck Vectors Bitcoin ETN, we offer a product that allows investors to benefit from the performance of Bitcoin”. However, instead of requiring a so-called wallet, as is customary with cryptocurrencies, in which Bitcoin is stored separately from the rest of the portfolio on the blockchain, this product essentially allows investors to trade exchange-traded notes (ETN) in much the same way as ETFs.

"VanEck is committed to support Bitcoin-focused financial innovation. Bringing to market a physical, fully-backed major exchange-listed Bitcoin ETP was a top priority of our firm. We succeeded! We hope to serve many clients and partners in Europe, Asia and across the world using our innovative, investment-friendly and regulatory-conscious access vehicles," said Gabor Gurbacs, VanEck's director of digital asset strategy.

Other providers of similar Bitcoin products include HANetf, which markets ETC Group’s BTCetc Bitcoin Exchange Traded Crypto. This product reached over $100 million in AUM this month, just four months since launching.

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