Soon after dropping a filing for a Bitcoin (BTC) futures exchange-traded fund (ETF) in the United States, asset manager Invesco is launching a spot BTC exchange-traded note (ETN) in Europe.
On Nov. 29, German stock market operator Deutsche Boerse officially announced the listing of the Invesco Physical Bitcoin ETN on its digital stock exchange, Xetra. The new product will trade under the ticker symbol BTIC.
Admitted to the regulated market of the Frankfurt Stock Exchange, the new ETN product is physically backed by Bitcoin and is centrally cleared via Eurex Clearing. “Through central clearing, investors benefit from significantly reduced risks in the settlement of transactions,” the announcement notes.
According to a report by the ETF-focused
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