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LONDON - iShares Digital Assets AG has issued a new tranche of 200,000 securities of its iShares Bitcoin ETP under its Secured Cryptoasset Linked Securities Programme, according to final terms published Friday.
The securities, which will be admitted to trading on the London Stock Exchange's Main Market starting November 17, are part of the company's bitcoin-linked exchange traded product that tracks the performance of bitcoin.
This latest issuance brings the total number of securities in the series to 66,125,328. The securities were issued at a price of $10.19 each.
The iShares Bitcoin ETP carries a total expense ratio of 0.25% per annum, though the company noted a partial fee waiver will apply from the series issue date through December 31, 2025, during which time the expense ratio will be reduced to 0.15% per annum.
The securities are secured, limited recourse debt obligations of iShares Digital Assets AG, with Coinbase Custody International Limited serving as custodian for the underlying bitcoin assets.
Flow Traders B.V., Jane Street Financial Limited, and Virtu Financial Ireland Limited have been appointed as authorized participants for the ETP, allowing them to create and redeem securities directly with the issuer.
The securities are designed to provide investors exposure to bitcoin price movements, with each security initially representing 0.0001 bitcoin at the series issue date, though this entitlement will decrease daily as fees are applied.
According to the final terms document, the information was based on a press release statement from the company.
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