SAINT HELIER, Jersey, Oct. 29, 2020
XBT Certificates to be independently calculated and prices to be published on Bloomberg and Refinitiv
SAINT HELIER, Jersey, Oct. 29, 2020 /PRNewswire/ -- CoinShares, Europe's largest crypto asset management firm with over $1 billion in assets under management, has today announced that the official prices of the XBT Provider range of ETPs will be calculated and published by Compass Financial Technologies on Bloomberg and Reuters. Compass FT is a financial services company specialising in the design, calculation and publication of market benchmarks and financial indices and is registered as a benchmarks administrator under EU Benchmark Regulations.
The prices to be published on Bloomberg and Refinitiv fall under the following ticker symbols:
Townsend Lansing, head of product at CoinShares commented "Transparency and trust are important considerations when selecting investment products, and our investors expect and deserve the best support possible. We are pleased to appoint Compass Financial as our independent calculation agent for XBT Provider, which we believe will provide investors with greater certainty and transparency as to the pricing for XBT Certificates."
The XBT Provider line of products offers investors exposure to cryptocurrency via simple access to financial instruments listed on traditional, regulated securities exchanges. This suite of exchange traded products was created in a structure familiar to investors, allowing them to be bought and sold during trading hours alongside traditional securities. The appointment of Compass Financial is the latest in a series of improvements made to the platform in recent months aimed at increasing transparency and providing a more streamlined user experience for investors.
In September, CoinShares announced that investors would be able to take advantage of Armanino LLP's Real Time Assurance application, which allows on-demand, real-time reports on collateral holdings that follow top industry standards backed by a top 25 independent public accounting firm.
In August, the company also announced that the digital assets held to physically back the XBT Provider range of products would be safeguarded by Komainu, the first hybrid custodian for institutional digital asset investors created by the Japanese investment bank, Nomura, digital asset manager, CoinShares and digital asset security company, Ledger.
About XBT Provider
XBT Provider AB (Publ) (XBT Provider), a CoinShares company, is the Swedish-domiciled issuer of the Bitcoin Tracker One (SE0007126024), Bitcoin Tracker Euro (SE0007525332), Ether Tracker One (SE0010296574) and Ether Tracker Euro (SE0010296582), Litecoin Tracker One (SE0011414465), Litecoin Tracker Euro (SE0011414457), XRP Tracker One (SE0011414481), XRP Tracker Euro (SE0011414473), series of certificates (collectively, the "Certificates") which are designed to synthetically track the performance of the price of the relevant underlying crypto-asset, bitcoin, ether, litecoin or XRP (in Swedish Kronor or Euro, respectively), less a fee component.
In 2015, Bitcoin Tracker One became the first bitcoin-referenced security available on a regulated exchange when it listed on Nasdaq Stockholm. In 2017, Ether Tracker One became the first ether-referenced security available on a regulated exchange when it listed on Nasdaq Stockholm. In 2019, Litecoin Tracker One and XRP Tracker One became, respectively, the first litecoin-referenced and XRP-referenced securities available on a regulated exchange in the EU when they listed on the Nordic Growth Market. The Certificates are available and traded in the same manner as any other share or instrument listed on their respective exchanges.
XBT Provider's Prospectus is approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) and the Certificates are governed by Swedish law. XBT Provider is not a licensed financial advisor. The views presented in this release are the opinions of the Board of XBT Provider and no other party. Bitcoin, ether, litecoin and XRP are volatile assets and their prices (and the price of securities that are referenced to them) can move quickly, positively or negatively. Prospective investors in the Certificates should carefully consider the suitability of such an investment and whether they have sufficient financial resources in order to be able to bear the risks associated therewith and, in connection with such a determination, should carefully read XBT Provider's latest Prospectus (including, in particular, the risk warnings set out therein). The Certificates do not confer on the holders thereof any claim to or against the relevant underlying crypto-asset to which they are referenced. The value and any payment due under the Certificates will be affected by the exchange rate between the US Dollar and the Euro or, as the case may be, between the US Dollar and the Swedish Krona. Any returns upon the Certificates will not be the same as the returns which a direct investment of an equivalent sum in the relevant underlying crypto-asset could produce. The Certificates are non-equity linked, non-principal protected, unsecured and unsubordinated and do not bear interest.
For more information on XBT Provider, visit: https://coinshares.com/etps/xbt-provider
About the CoinShares Group
At CoinShares, our mission is to expand access to the digital asset ecosystem while serving as trusted partners for our clients. We believe that Bitcoin and blockchain networks are landmark innovations that will fundamentally reshape the global financial system, and that investors should be able to participate in this transformation. We achieve this mission by providing institutional-grade investments products and services for digital asset investors. The CoinShares Group is a pioneer in digital asset investing and manages hundreds of millions in assets on behalf of a global investor base, with offices in Jersey, Stockholm, London, and New York.
For more information on CoinShares, visit: https://coinshares.com/
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