STOCKHOLM, Sweden., May. 23, 2016 -- XBT Provider announced today that effective immediately, the management fees of two of its Exchange Traded Notes (ETNs) will be lowered. The reduction underlines the strong management capabilities of the company ...
STOCKHOLM, Sweden., May. 23, 2016 -- XBT Provider announced today that effective immediately, the management fees of two of its Exchange Traded Notes (ETNs) will be lowered. The reduction underlines the strong management capabilities of the company as well as the intention to cater for the longer term investor.
The reduction brings the management fee for Bitcoin Tracker One and Bitcoin Tracker EUR to 1% from its previous 2.5% level.
"We know that most of our investors invest in bitcoin and blockchain technology with a long-term perspective," stated Johan Wattenström, XBT Provider's Co-Founder and Chief Executive Officer. "We want to reward the commitment of those investors seeking a blockchain allocation".
Bitcoin Tracker One and Bitcoin Tracker EUR are designed to provide investors with convenient and liquid access to the returns of the underlying asset, bitcoin, and exposure to blockchain technology. XBT provider is at all times fully hedged, and always hold bitcoins equivalent to the value of ETNs issued. XBT Provider's prospectus is approved by the Swedish FSA (Finansinspektionen) and are available for trading on Nasdaq Nordic.
The full prospectus, as well as the audited annual report, is available on xbtprovider.com
ABOUT THE ISSUER: XBT PROVIDER
XBT Provider AB (publ) is a public limited liability company formed in Sweden with statutory seat in Stockholm. The issuer is incorporated under Swedish law and registered with the Swedish companies' registration office under registration number 559001-3313.
ABOUT THE MARKET MAKER: MANGOLD FONDKOMMISSION
Mangold Fondkommission is a Stockholm based brokerage and Investment bank. As a member of Nasdaq Stockholm, the company assists XBT Provider with clearing services and acts as a liquidity provider for Bitcoin Tracker One.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: XBT Provider AB via Globenewswire
Source(s) : XBT Provider AB
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