Digital assets financial services company EQONEX Limited is expanding its investment product offering with a USD denominated Bitcoin Exchange-Traded Note (ETN) following the inaugural Euro denominated version, which was launched in July.
The USD denominated EQONEX Bitcoin ETN is available on the Deutsche Börse XETRA Exchange.
EQONEX Bitcoin ETNs give direct investment exposure to bitcoin via an exchange-traded, physically-backed product. The bitcoin underlying the ETN will be stored in the group's Financial Conduct Authority registered custody provider Digivault.
Frank Copplestone, EQONEX Head of Investment Products, said exchange-traded products provide investors with a familiar access point to gain exposure to new asset classes such as bitcoin.
"We are looking forward to building out a multi-currency offering," Copplestone said. "We were excited to offer our first Euro denominated Bitcoin ETN earlier this year. For many, the USD remains a default investment currency, so we were eager to prioritise a USD version which also bears our hallmark benefits such as free redemptions and secure custody."
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