• Bitcoin is a form of digital currency, created and held electronically. It is the first decentralized, digital currency and has the largest market cap of any digital currency.
• In October 2015 Bitcoin Tracker Euro became the second bitcoin-based security available on a regulated exchange, following its sister product which listed 5 months prior.
• The certificates provide exposure to the performance of the digital currency bitcoin by synthetically tracking performance of the price of bitcoin (BTC/USD) less a fee.
• The BTC/USD market is the most liquid bitcoin market widely available for trading, we regard it as the most suitable underlying index to track in a bitcoin product.
• The certificates are non-equity linked securities traded in the same manner as any share or instrument listed on Nasdaq exchange in Stockholm.
• XBT Provider's prospectus is approved by the Swedish FSA (Finansinspektionen).
• To invest, you need an account, which is obtained through your bank, advisor or online broker.
• Bitcoin is purchased for money received through the sale of certificates which ensures that the certificates are hedged and structured to follow the price of bitcoin. The certificates are guaranteed by CoinShares Capital Markets (Jersey) Limited.
• The Certificate is denominated in EUR thus there will be a foreign exchange exposure between USD and the EUR which could impact (+/-) the market value and final return from the certificates.

¹ Currently, UCITS eligibility for delta 1 ETPs referencing traditionally "ineligible" assets (such as commodities) varies by jurisdiction. CoinShares has extensive experience with the analysis and approach taken by market participants on UCITS eligibility. While we cannot give legal advice, CoinShares is happy to discuss its experience in this space. If you would like to find out the details from this analysis, please contact us.