The company is considering tie-ups with existing financial institutions
Symbolic funding With the launch of the world’s first ApeCoin Exchange Traded Product (ETP), we have expanded the range of wrapped cryptocurrency exposures available to investors.
The iconic Physical Apecoin ETP, which was listed on the Berzestuttgart on Wednesday, had a total cost ratio (TER) of 1.49%.
ETP tracks the CMBI ApeCoin index and provides the underlying physical exposure while it is fully secured by Coinbase Custody.
State Street acts as the product administrator.
As with any Iconic Funds strategy, ApeCoin ETP investors can apply for physical delivery of the underlying coins.
Michael GeisterIconic’s Head of Cryptographic ETP said: Provides exposure to the ecosystem built around the Bored and Mutant Ape Yacht Club NFT developed by Yuga Labs.
“”BAYC (Bored Ape Yacht Club) is one of the most valuable NFT collections available, made famous by stars such as Make Cuban and Serena Williams. Through ApeCoin, investors Growing NFT market.. ”
The company also announced its intention to work with third parties to launch white label products from its platform.
Patrick Lowry, CEO of Iconic, said: “We look forward to issuing additional highly innovative crypto ETPs in the near future and partnering with existing financial institutions for white-label crypto ETP products.”
Last year the company entered the European market Bitcoin ETP,continue Carbon offset bitcoin products And Europe jointly cheapest Ethereum ETP..
