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LONDON - iShares Digital Assets AG announced Monday the issuance of a new tranche of 310,000 securities under its iShares Bitcoin ETP series. The securities will be admitted to trading on the Main Market of the London Stock Exchange starting November 4, 2025.
The new tranche brings the total number of securities in the series to 63,635,328. The securities were issued at a price of $11.03 per unit, according to the final terms document published by the company.
The Bitcoin-linked exchange-traded product (ETP) tracks the performance of Bitcoin with a total expense ratio of 0.25% per annum. However, a partial fee waiver will apply until December 31, 2025, during which period the expense ratio will be reduced to 0.15% per annum.
The securities are backed by Bitcoin held in custody with Coinbase Custody International Limited. Flow Traders B.V., Jane Street Financial Limited, and Virtu Financial Ireland Limited serve as authorized participants for the ETP.
The iShares Bitcoin ETP is designed to provide investors with exposure to Bitcoin without directly holding the cryptocurrency. Each security has an initial cryptoasset entitlement of 0.0001 Bitcoin as of the series issue date of March 24, 2025.
The securities are secured, limited recourse debt obligations of the issuer and will be available to both institutional and retail investors following the UK Financial Conduct Authority's recent regulatory changes that allow cryptoasset products to be offered to retail clients in the United Kingdom.
According to the final terms document, the securities are being issued under iShares Digital Assets AG's Secured Cryptoasset Linked Securities Programme, which was established with a base prospectus dated October 15, 2025.
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