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Invesco Rolls Out Bitcoin Exchange-Traded Note in Europe

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In this photo illustration the Invesco logo seen displayed on a smartphone

 

Investment management firm Invesco Ltd. has rolled out a Bitcoin exchange-traded note in Europe, Deutsche Boerse reported.

Deutsche Bourse said the Invesco Physical Bitcoin ETN will be listed on the digital exchange Xetra and will trade under the ticker symbol BTIC. Custody will be provided by Standard Chartered’s crypto custody platform Zodia.

The new ETN is physically backed by Bitcoin and is centrally cleared through Eurex Clearing, which is touted to benefit investors with “significantly” reduced risks in transaction settlements.

CoinShares will serve as index sponsor and execution agent for the offering, tracking the CoinShares Bitcoin Hourly Reference Rate index. It will deliver the price performance on the asset, excluding fees.

Invesco has filed for a Bitcoin exchange-traded fund in the United States. BTC is up 4.89%.

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