Physically backed ETNs track performance of Bitcoin and Ethereum
Since Wednesday, two crypto ETNs issued by Global X Digital Assets Issuer Limited have been tradable on Xetra for the first time.
With the two exchange-traded notes (ETNs) from Global X, investors participate in the performance of the cryptocurrencies Bitcoin and Ethereum. The products are physically collateralised by the respective cryptocurrency and are centrally cleared in trading by Deutsche Börse Group’s central counterparty, Eurex Clearing AG. Trading in the two crypto ETNs on Xetra takes place in the trading currency US dollar.
|Name||Asset class||ISIN||Management fee||Crypto currency|
|Global X Bitcoin ETN||ETN||GB00BLBDZV05||0.65 per cent||Bitcoin|
|Global X Ether ETN||ETN||GB00BLBDZW12||0.65 per cent||Ethereum|
The crypto ETN offering on Xetra now comprises 42 products from ten providers. The ETNs relate to the cryptocurrencies Bitcoin, Bitcoin Cash, Cardano, Ethereum, Litecoin, Polkadot, Solana, Stellar, Tezos and TRON as well as five baskets of cryptocurrencies. Investors can participate in the performance of cryptocurrencies through crypto ETNs without having to set up crypto wallets or use unregulated crypto trading venues.
All crypto ETNs on Xetra are centrally cleared by Eurex Clearing AG as Deutsche Börse Group’s central counterparty (CCP). Investors thus benefit from significantly reduced risks in the settlement of trades. With an average monthly order book turnover of around €1 billion, Deutsche Börse and Xetra are also the market leaders in the trading of crypto ETNs in Europe.
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