Iconic has expanded its offering of crypto-based Exchange Traded Products with the launch of the world’s first physically backed EOS ETP.
Sign up to our free newsletters
Patrick Lowry, CEO of Iconic Funds and publicly traded Cryptology Asset Group
The Iconic Physical EOS ETP (ISIN: DE000A3GWSL2; WKN: A3GWSL) will be listed and begin trading on European stock markets in the coming weeks. The ETP will be a simple and cost-effective way for investors to gain exposure to EOS on European stock markets with a total expense ratio of 0.95%.
EOS is a cryptocurrency built on EOSIO, a blockchain network that enables developers to build decentralized apps (DApps) using common programming languages like C++. The aim of EOS is to make it as easy as possible for developers to build blockchain applications. The smart contract platform claims to eliminate transaction fees and also conduct millions of transactions per second.
The physically backed ETP offers investors access to EOS through a liquid, regulated vehicle without the technical challenges of setting up private keys or crypto wallets. They are 100% collateralized by coins held in a regulated institutional-grade custody solution with Coinbase Germany GmbH. State Street Bank International GmbH, one of the world’s leading Fund Administrators groups, will serve as the administrator.
“Iconic’s vision is to embrace investors accessing the crypto market through our traditional investment vehicles. It is exciting to see the diversity of investment products coming to market, and our newest ETP will provide even more access to more people” added Patrick Lowry, CEO of Iconic.
Source: ETFWorld.co.uk
Subscribe to Our Newsletter
