Jimmy2times9999
Registered User
- Messages
- 34
Hi,
I have a question on specific investment.
My questions are :
Is this an ETN or ETP. I think it's ETP as per the objectives part below but I don't understand it fully.
How is it taxed? CGT?
Name :Bitcoin Tracker One ("BITCOIN XBT")
ISIN: SE0007126024
From the KID.
What is this product?
Type The product is a structured investment in the form of a tracker certificate under Swedish law and traded on the Nasdaq FirstN orth NDXS (MTF) as the primary marketplace.
Term
The product does not have a fixed maturity. You may exercise a right to sell the product to the Issuer at any time in accordancewith (and subject to) the terms of the Prospectus. After exercise, you will receive a cash amount equal to the Settlement Amount (the original purchase price plus or minus any price movements in the underlying crypto currency less the relevant fee) less an early exit charge of 2.0%.
The Issuer has the right to terminate the product at any time in accordance with (and subject to) the terms of the Prospectus. After termination, you will receive a cash amount equal to the Settlement Amount (the original purchase price
plus or minus any price movements in the underlying crypto currency less the relevant fee).
Objectives
The product is a special certificate, an exchange traded product, which is different from most investment products. The product’s
objective is to provide a daily return approximately equal to the performance of (the Digital Asset) Bitcoin price across the 3 most
liquid digital exchanges available to our methodology, before management fees and costs. This means that when the price of
Bitcoin rises by 1% on the 3 most liquid digital exchanges, the product should rise by approximately the same percentage.
The methodology is created by CoinShares XBT Provider AB (Publ).
To hedge its exposure under the certificates, the Issuer enters into an intra-group collateral management arrangement with the
Guarantor, whereby the Issuer provides cash raised from the issuance of the Certificate to the Guarantor in exchange for a
contractual promise to pay the settlement amount of the note (the original purchase price plus or minus any price movements in
the underlying crypto currency less the relevant fee). To hedge its exposure under that contract, the Guarantor purchases the
relevant crypto currency on a 1:1 basis, in both physical form and using derivative contracts. The product does not distribute
dividends. Investors can purchase and sell certificates on the stock market (the so called secondary market) during normal
exchange trading hours set and operated by the exchange.
I have a question on specific investment.
My questions are :
Is this an ETN or ETP. I think it's ETP as per the objectives part below but I don't understand it fully.
How is it taxed? CGT?
Name :Bitcoin Tracker One ("BITCOIN XBT")
ISIN: SE0007126024
From the KID.
What is this product?
Type The product is a structured investment in the form of a tracker certificate under Swedish law and traded on the Nasdaq FirstN orth NDXS (MTF) as the primary marketplace.
Term
The product does not have a fixed maturity. You may exercise a right to sell the product to the Issuer at any time in accordancewith (and subject to) the terms of the Prospectus. After exercise, you will receive a cash amount equal to the Settlement Amount (the original purchase price plus or minus any price movements in the underlying crypto currency less the relevant fee) less an early exit charge of 2.0%.
The Issuer has the right to terminate the product at any time in accordance with (and subject to) the terms of the Prospectus. After termination, you will receive a cash amount equal to the Settlement Amount (the original purchase price
plus or minus any price movements in the underlying crypto currency less the relevant fee).
Objectives
The product is a special certificate, an exchange traded product, which is different from most investment products. The product’s
objective is to provide a daily return approximately equal to the performance of (the Digital Asset) Bitcoin price across the 3 most
liquid digital exchanges available to our methodology, before management fees and costs. This means that when the price of
Bitcoin rises by 1% on the 3 most liquid digital exchanges, the product should rise by approximately the same percentage.
The methodology is created by CoinShares XBT Provider AB (Publ).
To hedge its exposure under the certificates, the Issuer enters into an intra-group collateral management arrangement with the
Guarantor, whereby the Issuer provides cash raised from the issuance of the Certificate to the Guarantor in exchange for a
contractual promise to pay the settlement amount of the note (the original purchase price plus or minus any price movements in
the underlying crypto currency less the relevant fee). To hedge its exposure under that contract, the Guarantor purchases the
relevant crypto currency on a 1:1 basis, in both physical form and using derivative contracts. The product does not distribute
dividends. Investors can purchase and sell certificates on the stock market (the so called secondary market) during normal
exchange trading hours set and operated by the exchange.