• Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics
Subscribe
  • Login
  • Register
No Result
View All Result
  • Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics
No Result
View All Result
No Result
View All Result

German Bitcoin ETN Reaches $1 Billion

22/02/2021 11:21
No comments
German ETN BTCE price, Feb 2021

BTCetc (BTCE), the biggest bitcoin stock traded product on Germany’s biggest stock exchange, Xetra, has surpassed $1 billion.

That’s a 2.5x increase over just last month when BTCE stood at about $400 million in market cap.

All bitcoin ETNs on Xetra were $600 million in January, now just BTCE has gained $1 billion by itself.

They hold 18,131.197 bitcoin, worth about $1 billion, with each share bought being backed by bitcoin and is redeemable for bitcoin.

The began trading just this summer with it approved by BaFin, the German financial regulator. At the time they said:

“BTCE is structured as an ETC that is physically backed by Bitcoin. Each unit of BTCE gives the holder a claim on a predefined amount of Bitcoin – a structure very similar to physically backed gold exchange traded commodities, and allows investors the option for redemption in Bitcoin.”

They’re the biggest in Europe after the XBT Provider products and seem to be growing fairly quickly, in part presumably because they have first class access to European traditional finance.

Currently they trade at about €45 per share, which translates to $55, with bitcoin’s price currently at about $55,000.

Making them a potential avenue for European institutional investors as well as individuals holding pension or stock portfolios to invest in bitcoin with tax benefits as a hedge and diversifier.

Related Posts

Arbitrum opening price, March 2023

Arbitrum Gifts $1.7 Billion to the Public

Bitcoin art, March 2023

Stocks Jump 2%, Bitcoin Close to Touching $29,000

Coinbase Dives 15%

Goldman Sachs and JP Morgan Can’t Survive Bank Run Says NBER Paper, Fail Stress Test

Load More
  • Trending
  • Comments
  • Latest
The National Bureau of Economic Research

Goldman Sachs and JP Morgan Can’t Survive Bank Run Says NBER Paper, Fail Stress Test

Paul Grewal, Coinbase's Chief Legal Officer

We Asked SEC to Register, They Sent Us a Wells Notice Says Coinbase

NY District Court

XRP Hypes Ahead of Court Decision

Bitcoin and asset prices dive, March 2023

Bitcoin and Stocks Dip on Fed Hikes, But is it a Fakeout?

Arbitrum opening price, March 2023

Arbitrum Gifts $1.7 Billion to the Public

Bitcoin art, March 2023

Stocks Jump 2%, Bitcoin Close to Touching $29,000

Brian Armstrong getting ready for court. The words are a joke, but the picture is him for real, March 2023

Coinbase Dives 15%

The National Bureau of Economic Research

Goldman Sachs and JP Morgan Can’t Survive Bank Run Says NBER Paper, Fail Stress Test

Comments

Latest News

  • Arbitrum Gifts $1.7 Billion to the Public
  • Stocks Jump 2%, Bitcoin Close to Touching $29,000
  • Coinbase Dives 15%

About Trustnodes

Terms of Service

Privacy Policy

Our Ethics and Values

Trustnodes Newsletter

(You have to be a paid subscriber)

Trustnodes © 2017-2023. All Rights Fully Reserved. For any Enquiries contact@trustnodes.com RSS Feed

No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics

Trustnodes © 2017-2023. All Rights Fully Reserved. For any Enquiries contact@trustnodes.com RSS Feed

Welcome Back!

Login to your account below

Authenticate with MetaMask Loading...

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?