Frankfurt (25 November 2020) – Today, MV Index Solutions GmbH (MVIS®) announced the licensing of the MVIS CryptoCompare Bitcoin VWAP Close Index (ticker: MVBTCV) to VanEck for the use as an underlying index fora Bitcoin exchange traded note (ETN). With this new product,investors can participate directly in the performance of the leadingcryptocurrency Bitcoin without having to buy it directly.
Purchasing the newly listed ETN is as simple as trading in stocks orETFs; a so-called wallet, customary with cryptocurrencies, in which Bitcoin isstored separately from the rest of the portfolio on the blockchain, is notrequired.
“Bitcoin's historically relatively low correlation to other assetclasses makes it an excellent way to contribute to the diversification of aportfolio,” says Martijn Rozemuller, Head of Europe at VanEck. “With our newETN, we offer a product that allows investors to benefit from the performanceof Bitcoin.”
The MVIS CryptoCompare Bitcoin VWAP Close Index (ticker: MVBTCV) is an index designed to measure the performance of a digital assetsportfolio which invests in Bitcoin, with a closing value based on an hourlyVWAP price.
“We are proud to be the index provider for this trailblazing product,”said Steven Schoenfeld, CEO at MV Index Solutions. “The MVBTCV index enhancesinvestor confidence by accurately tracking the Bitcoin price, and is a keymember of our growing Digital Asset Index family, which continues to pioneerthe cryptocurrency space,” he continued.
Detailed information about the Indices, including methodology details and index data, are available on the MV Index Solutions website.
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