Index to underlie the VanEck Vectors Bitcoin ETN, a product that reflects the performance of the Bitcoin price
Today, MV Index Solutions GmbH announced the licensing of the MVIS CryptoCompare Bitcoin VWAP Close Index to VanEck for the use as an underlying index for a Bitcoin exchange traded note (ETN). With this new product, investors can participate directly in the performance of the leading cryptocurrency Bitcoin without having to buy it directly.
Purchasing the newly listed ETN is as simple as trading in stocks or ETFs; a so-called wallet, customary with cryptocurrencies, in which Bitcoin is stored separately from the rest of the portfolio on the blockchain, is not required.
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“Bitcoin’s historically relatively low correlation to other asset classes makes it an excellent way to contribute to the diversification of a portfolio,” says Martijn Rozemuller, Head of Europe at VanEck. “With our new ETN, we offer a product that allows investors to benefit from the performance of Bitcoin.”
The MVIS CryptoCompare Bitcoin VWAP Close Index is an index designed to measure the performance of a digital assets portfolio which invests in Bitcoin, with a closing value based on an hourly VWAP price.
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“We are proud to be the index provider for this trailblazing product,” said Steven Schoenfeld, CEO at MV Index Solutions. “The MVBTCV index enhances investor confidence by accurately tracking the Bitcoin price, and is a key member of our growing Digital Asset Index family, which continues to pioneer the cryptocurrency space,” he continued.
The MVIS CryptoCompare Bitcoin VWAP Close Index is a rules based index which covers the broadest CCCAGG pricing for indices provided by CryptoCompare.
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