EQONEX Bitcoin Exchange Traded Note (ETN) launches on Deutsche
Börse XETRA Exchange today
- The EQONEX physically backed Bitcoin ETN (Ticker: EQ1B) offers
investors direct exposure to bitcoin via an exchange-traded
product
- Investors to benefit from free redemptions for the underlying
bitcoin and low management fees
- Underlying Bitcoin is stored in EQONEX's accredited custody
provider, Digivault
FRANKFURT, Germany, July 11,
2022 /PRNewswire/ -- EQONEX Limited (NASDAQ: EQOS)
(the Group), a digital assets financial services company, today
marked the official launch of its Investment Products business with
the listing of a Bitcoin Exchange-Traded Note (ETN) on the Deutsche
Börse XETRA Exchange.
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 also have the benefit of being 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, which is one of only 35 exchange or custody providers to
hold this accreditation.
EQONEX CEO Jonathan Farnell said,
"The launch of our debut exchange-traded crypto investment product
is an important milestone for EQONEX as we strive to build a
world-leading and highly trusted crypto company. We are pleased our
prospectus has met the discerning standards of BaFin to be eligible
for listing on the XETRA exchange."
"Germany makes an ideal,
strategic launchpad for our Investment Products business, given its
sophisticated and highly educated investment community. We see the
German market as fertile ground for what is likely to be a growing
suite of EQONEX exchange-traded products," Jonathan said.
EQONEX is well positioned to offer an innovative suite of
investment and structured products given the company's ecosystem
which encompasses an exchange, custody capabilities, and its focus
on regulatory compliance and security.
Frank Copplestone, EQONEX Head of Investment Products said, "The
launch of our Investment Product business is an important milestone
for the company as we dedicate more attention and focus towards
delivering a broader mix of investment opportunities to our clients
across Germany and in time, to
other international markets," Frank said.
"Investors are looking for a range of ways to access digital
asset investment opportunities, so we are excited to offer a
product to German investors that provides direct bitcoin exposure,
and is available on a regulated, globally recognized exchange".
Distinct from some other issuers, EQONEX embeds an additional
investor protection by holding the underlying physical bitcoin in a
segregated account under a Security Trustee, ensuring it is not
used for rehypothecation.
The bitcoin underpinning the EQONEX Bitcoin ETN is held in
Digivault which means it is Chainalysis-tested to ensure that it is
legitimate and has not been tainted by money laundering or criminal
activity.
About EQONEX
EQONEX Limited (NASDAQ: EQOS) is a technology driven digital
assets financial services group that provides institutional grade
infrastructure and a full suite of trading, custody and asset
management solutions to clients. The Group's digital assets
ecosystem has been designed to accommodate the needs of
institutions and individuals with the same degree of regulatory
oversight and security they are accustomed to in traditional
financial markets. EQONEX's ecosystem primarily encompasses EQONEX
Exchange, a digital asset exchange; Digivault, a FCA accredited hot
and cold digital assets custodian and Bletchley Park Asset
Management, a fund of crypto-hedge funds.
For more information visit: https://group.eqonex.com/
Follow EQONEX on social media on Twitter @eqonex, on Facebook
@eqonex, and on LinkedIn.
Forward-Looking Information
Any forward-looking statements in this press release are based
on available current market material and management's expectations,
beliefs and forecasts concerning future events impacting
EQONEX. You are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, as well as assumptions, which, if they
were to ever materialize or prove incorrect, could cause the
results of EQONEX to differ materially from those expressed or
implied by such forward-looking statements. The
forward-looking statements made in this press release speak only as
of the date hereof and we disclaim any obligation, except as
required by law, to provide updates, revisions or amendments to any
forward-looking statements to reflect changes in our expectations
or future events.
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SOURCE EQONEX
