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LONDON - iShares Digital Assets AG has issued 230,000 securities of its iShares Bitcoin ETP under its Secured Cryptoasset Linked Securities Programme, according to a final terms document dated November 11, 2025.
The new tranche brings the total number of securities in the series to 65,975,328. The securities were issued at a price of $10.51 each and will be admitted to trading on the Main Market of the London Stock Exchange starting November 12, 2025.
The Bitcoin ETP tracks the performance of bitcoin and carries a Total Expense Ratio (TER) of 0.25% per annum. However, a partial TER waiver will apply from the series issue date through December 31, 2025, during which period the TER will be 0.15% per annum.
The securities are secured, limited recourse debt obligations of iShares Digital Assets AG and trade under the ticker IB1T on the London Stock Exchange. They are available to retail investors in the UK following regulatory changes that came into effect on October 8, 2025, with the Conduct of Business (Cryptoasset Products) Instrument 2025.
Coinbase Custody International Limited serves as custodian for the underlying bitcoin assets, while The Bank of New York Mellon, London Branch acts as the paying agent and account bank. Flow Traders B.V., Jane Street Financial Limited, and Virtu Financial Ireland Limited are appointed as authorized participants.
The securities are designed to provide investors with exposure to bitcoin without directly holding the cryptocurrency. Each security represents an entitlement to a specific amount of bitcoin that decreases daily as the TER is applied.
The information is based on a final terms document released by iShares Digital Assets AG.
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