FRANKFURT AM MAIN, Germany, December 15, 2021 (GLOBE NEWSWIRE) – Iconic Digital Asset AG, a subsidiary of Iconic Funds GmbH (collectively referred to as “Iconic Funds”) has launched its range of crypto-based Exchange Traded Products (“ETPs”) with the introduction of a physically deposited Ethereum ETP.
The Iconic Physical Ethereum ETP tracks the spot price of Ethereum. The ETP is 100% secured by coins that are kept in an institutional custody solution with Coinbase Custody. Coinbase Custody offers the most trusted institutional cold store custody solution. State Street Bank, one of the world’s leading fund administration groups and administrator of Iconic’s Bitcoin ETP, announced earlier this year, will also serve as the Ethereum ETP administrator.
The ETP gives European investors industry-leading low-cost access to Ethereum. The Iconic Physical Ethereum ETP will be listed on the regulated market of the Frankfurt Stock Exchange, Xetra, in the coming days. It is available to European investors with an annual total expense ratio of 0.95% and is traded under the Bloomberg ticker symbol IETH GY with an ISIN of DE000A3GTML1.
Michael Geister, Head of Crypto ETPs at Iconic, said: “Our Crypto ETPs are designed to meet the highest institutional standards for security, trust and cost efficiency. Our products give European investors familiar access to crypto assets “by investing through trusted investment vehicles at an industry-leading cost.”
Constantly at the forefront of crypto-asset launches, Iconic Funds issued and listed a physically secured Bitcoin ETP, XBTI, on several European exchanges earlier this year (ISIN: DE000A3GK2N1). The company notes that the Iconic Physical Ethereum ETP is just the beginning of its intention to issue more ETPs that are physically backed up by crypto assets.
Patrick Lowry, CEO of Iconic Funds, said, “Crypto is still in the early stages of adoption. Iconic’s vision is to be the trustworthy partner of investors for accessing the crypto market through our traditional investment vehicles. We look forward to adding additional, highly innovative crypto ETPs in the near future as well as partnerships with established financial institutions for white label crypto ETP products. “
Coin Metrics CEO Tim Rice added, “Coin Metrics is excited to support Iconic’s mission to drive crypto-asset adoption.”
Product name | Iconic physical Ethereum ETP |
Ticker Xetra / Bloomberg | YES NO |
ISIN / WKN | DE000A3GTML1 / A3GTML |
TO HAVE | 0.95% |
Main currency | U.S. dollar |
Underlying | Ethereum (CMBI Ethereum Index) |
Product structure | Replicate physically |
Index provider | Coin Metrics Bletchley Indices |
Domicile | Liechtenstein |
Exhibitor | Iconic Digital Assets AG |
Administrator | State Street Bank International GmbH |
Security trustee | Heydt GmbH & Co. KG’s banking house |
Custodians | Coinbase Custody International Ltd |
Market maker | Flow Traders BV |
Authorized participant (s) | Flow Traders BV
Jane Street Financial Ltd. DRW Europe BV Bluefin Europe LLP |
Publication date | December 14, 2021 |
Important instructions:
This article is only a non-binding preliminary information, which is used for advertising purposes only and is not a prospectus within the meaning of Regulation (EU) 2017/1129 – Prospectus Regulation) and the Securities Prospectus Act (WpPG).
This announcement does not constitute an offer to sell any securities or a solicitation or an offer to buy any securities in any jurisdiction in which such offer or solicitation is unlawful. This announcement does not constitute an offer of securities for sale in the United States and the securities referred to in this announcement may not be offered or sold in the United States without registration or exemption from registration.
This announcement may contain forward-looking information within the meaning of the applicable securities laws, including with regard to the expected volume of the offer, the terms and conditions of the bonds, including the expected time for the pricing and settlement date and the listing of the bonds on the regulated market of the Frankfurt Stock Exchange. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the control of Iconic Fund and which could cause actual results to differ materially from those disclosed or implied in such forward-looking information . These risks and uncertainties include, but are not limited to, capital market conditions and the ability to successfully market the Notes, global and local economic and business conditions. All forward-looking information in this release speaks as of the date of this release. Iconic Funds undertakes no obligation to update such forward-looking information as a result of new information, future events or for any other reason, except as required by law. Additional information about these assumptions and risks and uncertainties is contained in Iconic Fund’s filings with securities regulators, including its latest annual disclosure form and MD&A. These filings are also available on the Iconic Fund website at https://funds.iconicholding.com.
The price development of cryptocurrencies is very volatile and unpredictable and the price development in the past is no guarantee for the future price development.
Approval of the prospectus should not be construed as approval of the securities being offered or admitted to trading on a regulated market. Potential investors should read the prospectus before making any investment decision in order to fully understand the potential risks and rewards of investing in securities.
The prospectus is available at
About Iconic Digital Assets AG:
Iconic Digital Assets AG is a wholly-owned subsidiary of Iconic Funds GmbH and the issuer of a physically deposited Ethereum Exchange Traded Product (“ETP”) (ISIN: DE000A3GTML1; ticker: IETH). Iconic Funds GmbH and its subsidiaries are collectively referred to as “Iconic Funds”. Iconic Digital Assets AG will issue further planned crypto ETPs for Iconic Funds.
About Iconic Funds GmbH:
Iconic Funds GmbH is the holding company of a number of subsidiaries that manage and issue crypto investment products. Iconic Funds GmbH and its subsidiaries are referred to as “Iconic Funds”. Iconic Funds is a subsidiary of Iconic Holding GmbH. Iconic Holding is a portfolio company of FinLab AG (WKN 121806 / ISIN DE0001218063 / Ticker: A7A), the High-Tech Gründerfonds (“HTGF”) and the Cryptology Asset Group plc (ISIN: MT0001770107; Ticker: CAP) among others.
Press contact:
contact@iconicholding.com
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Iconic Funds expands its product range and launches the Iconic Physical Ethereum ETP
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Iconic Funds launches Physical Ethereum ETP
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