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Bitcoin ETN

A Digital Form of Gold

Five Factors Supporting Bitcoin’s Price

VanEck Bitcoin ETN

  • Exposure to the first and largest cryptocurrency
  • 100% collateralized with BTC in cold storage at a regulated custodian
  • Tradeable on regulated stock exchanges and traditional brokers
  • No staking or lending risk
  • 1 % total expense ratio
VBTC

ETN-Details

ETN-Details

Basis-Ticker: VBTC
ISIN: DE000A28M8D0
TER: 1.00%
AUM: $457.8 M (as of 18-03-2024)

Lower risk

Typically lower reward

Higher risk

Typically higher reward
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Risk: You may lose money up to the total loss of your investment due to the extreme volatility of this asset class and the Main Risk Factors described below and additional risks described in the sales prospectus.

What is Bitcoin?


Bitcoin is a decentralized network of digital currency without a central bank or another central authority.

The currency of this network is called “bitcoin” (Lower b) and can be transferred from user to user on a peer-to-peer network without any intermediaries.

Bitcoin transactions are irreversible, pseudonymous, fast and global, secure and permissionless. These transactions are recorded on a publicly-distributed ledger called “blockchain”

Why Invest in Bitcoin ETN?

Since its launch in 2009, Bitcoin’s price has rocketed in value as it has become a type of digital gold, a store of value in an age of uncertainty. VanEck's Bitcoin ETN allows to invest in this cryptocurrency, just like an ETF.

Adding an Bitcoin ETN to a Portfolio

Even a small investment in a Bitcoin ETN would have improved a portfolio’s performance over the last few years. It is now possible to gain such an exposure through VanEck's Bitcoin ETN, traded like an ETF.

60% Equities / 40% Bonds Portfolio

*Equities are represented by the MSCI World NR USD Index. Bonds are represented by the Bloomberg Barclays Global Aggregate Corporate Index.

Source: Morningstar. The performance quoted represents past performance which is no guarantee of future results. Future performance may be lower or higher than current performance. Investment returns will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original costs.

Add 0.5% Bitcoin

*Equities are represented by the MSCI World NR USD Index. Bonds are represented by the Bloomberg Barclays Global Aggregate Corporate Index.

Source: Morningstar. The performance quoted represents past performance which is no guarantee of future results. Future performance may be lower or higher than current performance. Investment returns will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original costs.

Add 1% Bitcoin

*Equities are represented by the MSCI World NR USD Index. Bonds are represented by the Bloomberg Barclays Global Aggregate Corporate Index.

Source: Morningstar. The performance quoted represents past performance which is no guarantee of future results. Future performance may be lower or higher than current performance. Investment returns will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original costs.

Add 3% Bitcoin

*Equities are represented by the MSCI World NR USD Index. Bonds are represented by the Bloomberg Barclays Global Aggregate Corporate Index.

Source: Morningstar. The performance quoted represents past performance which is no guarantee of future results. Future performance may be lower or higher than current performance. Investment returns will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original costs.

Five Factors Supporting Bitcoin’s Price

Bitcoin Performance

VanEck's Bitcoin ETN is based on the MVIS Cryptocompare Bitcoin VWAP Close Index and closely tracks the bitcoin price.

Bitcoin ETN Benefits


VanEck gives you exposure to Bitcoin without the hassle and risk of private keys and unverified exchanges. In summary, Bitcoin ETN by VanEck offers a number of significant advantages:

  • Bitcoin deposited in state-of-the-art cold storage1
  • At Bank Frick & Co. AG, a custodian regulated under the “Law on Tokens and Trusted Technology Service Providers” ( “Blockchain Act”) and a holder of a “TT Token Depositary” license
  • Insurance (up to certain level)

1Setup in which private keys are stored in an environment not connected to the internet, in order to reduce risk of hacking.

Every Euro invested into a Bitcoin ETN by VanEck will be used to buy Bitcoin.

  • Fully collateralized by physically buying Bitcoin
  • No lending of Bitcoin
  • No use of derivatives

Bitcoin ETN can be bought/sold like a stock, which brings the following advantages:

  • Central clearing reduces counterparty risk in settlement of transactions
  • Transparency of issuer and investor documents
  • Indicative net asset values (without excessive premiums or discounts)
  • Sponsors/market makers enhance trading liquidity
  • No need for private keys or to store digital assets on a wallet
  • Can be integrated into your investment portfolio

Only 1% annual all-in fees, making it one of the least expensive products of its kind.

Main Risk Factors of the Bitcoin ETN

Despite all the hype, digital assets are a highly risky investment. Below are key risk factors that need to be considered before making an investment in an Ethereum ETN.

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The issuer intends to invest in a single digital asset. Because the class of digital asset investments is growing at a rapid pace, all risks relating to the underlying technology may not be known. As new digital assets develop and attract interest from the development community and investors, they may also become greater targets for exploitation.

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Digital assets are a new technological innovation with a limited history. There is no assurance that usage of digital assets will continue to grow. A contraction in use of digital assets may result in increased volatility or a reduction in the price of such digital assets, which could adversely impact the value of the notes. For example, Bitcoin, one of the earliest digital assets, was invented in 2009. Digital assets and their respective trading histories have therefore existed for a relatively short time, which limits a potential investor’s ability to evaluate an investment in the notes.

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Speculators and investors who seek to profit from trading and holding digital assets generate a significant portion of the demand for such digital assets. Speculation regarding future appreciation in the value of digital assets may inflate and make more volatile the price of such digital assets. As a result, digital assets may be more likely to fluctuate in value due to changing investor confidence in future appreciation in the price of digital assets.

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Regulators and governments in various jurisdictions have focused on regulation of digital assets. Digital asset market disruptions and resulting governmental interventions are unpredictable, and may make digital assets or certain digital assets illegal altogether. Future regulations and directives in some jurisdictions may conflict with those others, and such regulatory actions may restrict or make some or all digital assets illegal in some jurisdictions. Future regulations and directives may impact the demand for digital assets, and may also affect the ability of digital assets exchanges to operate and for other market participants to enter into digital assets transactions.

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