Investor Resources Daily Hedging Position

Each Certificate purchased by an investor creates an obligation to pay that investor an amount based on performance of the relevant digital currency less the relevant fee. To ensure this obligation can be met, the relevant digital currency is held in either physical or synthetic form.

The tables below show the total client obligation in relation to the Certificates in issue, and the total holdings of the digital currency used to meet this obligation (split between physical and synthetic). Simply put, the tables illustrate the amount of digital currency held versus the value of the outstanding Certificates.

For further information on the hedging see the FAQ "How does XBT Provider gain exposure to the underlying cryptocurrency?"

Additionally, in order to provide additional transparency over the digital assets held to hedge the XBT Provider exchange-traded notes (ETNs) issued and outstanding, we have engaged Armanio LLP (a top 25 audit, accounting and business consulting firm) to independently perform agreed-upon procedures under the AICPA's Attestation Standards. This work is repeated on a weekly basis.

The results of their findings and the Agreed Upon Procedures undertaken can be found here.

Data shown in the tables below is close of market as of 3rd June 2020

Bitcoin

Relevant ETPs Value of Certificates
Outstanding (USD)
Physical Bitcoin
Held (USD)
Synthetic Bitcoin
Held (USD)
Total Hedge
Position (USD)
Bitcoin Tracker One
Bitcoin Tracker Euro
$608,972,473 $613,536,873 $34,072,737 $647,609,609

Ethereum

Relevant ETPs Value of Certificates
Outstanding (USD)
Physical Ethereum
Held (USD)
Synthetic Ethereum
Held (USD)
Total Hedge
Position (USD)
Ether Tracker One
Ether Tracker Euro
$138,749,750 $148,726,134 $3,060,715 $151,786,849

Litecoin

Relevant ETPs Value of Certificates
Outstanding (USD)
Physical Litecoin
Held (USD)
Synthetic Litecoin
Held (USD)
Total Hedge
Position (USD)
Litecoin Tracker One
Litecoin Tracker Euro
$731,399 $766,269 - $766,269

XRP

Relevant ETPs Value of Certificates
Outstanding (USD)
Physical XRP
Held (USD)
Synthetic XRP
Held (USD)
Total Hedge
Position (USD)
XRP Tracker One
XRP Tracker Euro
$1,326,222 $1,382,626 - $1,382,626
For more information, please visit our Investor Resources page.

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