XBT PROVIDER AB: UPDATE IN ACCORDANCE WITH PREVIOUSLY OUTLINED FORK POLICY
STOCKHOLM, AUGUST 29, 2018 —— Per the policy announced by XBT Provider AB on 9 March, 2018, in release titled: “Update Regarding Ongoing Fork Policy of 9 March,” XBT Provider has established that it will review semi-annually occurrences of forks’ and follow with a public release determining whether there is a material distribution to be made.
This release serves to acknowledge that the Issuer has concluded the review and that there have been no further material ‘forks’ during this last period; and as a result, there is no issuance of new proceeds to shareholders.
For reference - the Issuer continues to abide by its previously outlined Fork policy found here
But for the avoidance of doubt - each fork is reviewed on a case by case basis, according to the following three points:
- The Issuer must determine access to the forked coin. Not all forks are acknowledged by exchanges or by the custodians that the Issuer uses for storage of crypto assets.
- Not all forks are considered "legitimate" and some are considered by the wider community to be dishonest schemes.
- Many forks may have untested and/or unstable technology that is not capable of facilitating a proper transaction.
The next review period will be concluded February 2019, after which the issuer will provide a press release in the event that there is a material distribution to be made following such review. Please note that should no material distribution be proposed following a semi-annual review, it is no longer proposed to issue a press release to merely confirm the same.
For all other questions, please email: [email protected]
About XBT Provider AB (Publ)
XBT Provider AB (Publ) (XBT Provider), a CoinShares company, is the Swedish-domiciled issuer of the Bitcoin Tracker One (COINXBT:SS), Bitcoin Tracker Euro (COINXBE:SS), Ether Tracker One (COINETH:SS) and Ether Tracker Euro (COINETHE:SS) series of certificates which are designed to synthetically track the performance of the price of the relevant underlying crypto-asset, bitcoin or ether (in Swedish Kronor or Euro, respectively), less a fee component.
In 2015, Bitcoin Tracker One became the first bitcoin-referenced security available on a regulated exchange when it listed on NASDAQ in Stockholm. In 2017, Ether Tracker One became the first ether-referenced security available on a regulated exchange when it listed on NASDAQ in Stockholm. All four certificates are available and traded in the same manner as any other share or instrument listed on the Nasdaq exchange in Stockholm.
XBT Provider’s Prospectus is approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) and its certificates are governed by Swedish law. XBT Provider is not a licensed financial advisor. The views presented in this release are the opinions of the Board of XBT Provider and no other party. Bitcoin and ether are volatile assets and their prices (and the price of securities that are referenced to them) can move quickly, positively or negatively. Prospective investors in the Issuer’s certificates should carefully consider the suitability of such an investment and whether they have sufficient financial resources in order to be able to bear the risks associated therewith and, in connection with such a determination, should carefully read the Issuer’s latest Prospectus (including, in particular, the risk warnings set out therein). XBT Provider’s certificates do not confer on the holders thereof any claim to or against the relevant underlying crypto-asset to which they are referenced. The value and any payment due under XBT Provider’s certificates will be affected by the exchange rate between the US Dollar and the Euro or, as the case may be, between the US Dollar and the Swedish Kronor. Any returns upon XBT’s certificates will not be the same as the returns which a direct investment of an equivalent sum in the relevant underlying asset could produce. XBT Provider’s certificates are non-equity linked, non-principal protected, unsecured and unsubordinated and do not bear interest.