The new ETN allows investors to gain low-cost exposure to the cryptocurrency Bitcoin. The reference market for the Bitcoin spot price is the institutional CME CF Bitcoin Reference Rate (BRR). The ETN is physically collateralised and admitted to the Regulated Market of the Frankfurt Stock Exchange. Due to central clearing, investors also benefit from significantly reduced risks when settling transactions. 

The ETN can be traded either in euros or US dollars using the corresponding Xetra symbol. 

All crypto ETNs tradable on Xetra are physically collateralised and listed on the Regulated Market of the Frankfurt Stock Exchange. In addition, all crypto ETNs on Xetra are centrally cleared by Eurex Clearing AG as the central counterparty (CCP) of Deutsche Börse Group. Thanks to central clearing, institutional investors in particular benefit from significantly reduced risks in the settlement of transactions.