EQONEX appoints Apex Group to manage its physically-backed Bitcoin ETN

Rick Steves

“We are delighted to work with Apex to bring our first ETN product to market with more to follow”

Apex Group will be providing SPV administration and trustee services to EQONEX’s Luxembourg platform as well as back-office administration support services reconciling the creation/sell activity for the notes issued.

Apex Group’s established Capital Markets business supports clients in planning and executing a broad cross-section of Capital Markets transactions to facilitate growth, respond to regulatory change, or manage risk.

The solution includes operational, accounting, and administration services as well as trustee and agency services to support conventional or complex structured debt capital markets, and escrow and loan market transactions from initial set-up to maturity.

Apex Group was established in Bermuda in 2003 and has since grown to boast over 80 offices in 40 countries worldwide and nearly 10,000 employees. The firm offers a broad range of services, including fund services, digital onboarding and bank accounts, depositary, custody, super ManCo services, corporate services including HR and Payroll and an ESG Ratings and Advisory solution.

The group has since become one of the leading players within the digital asset space.

Apex to manage EQONEX’s Bitcoin Exchange-Traded Note

The appointment of Apex Group follows EQONEX launch of its first Bitcoin Exchange-Traded Note (ETN) on the Deutsche Börse XETRA Exchange.

The EQONEX physically-backed Bitcoin ETN offers investors direct exposure to Bitcoin via an exchange-traded product and the benefit of free redemptions for the underlying Bitcoin and low management fees.

Cornelia Wallner, Global Head of Capital Markets Sales at Apex Group, commented: “We are pleased to support EQONEX, a pioneering business which is at the forefront of the growing digital assets industry. This appointment is yet further evidence of Apex’s forward-looking approach, innovative architecture and adaptable full-service model, which enables the Group to provide corporate, administrative and trustee services to support this dynamic new asset class. We look forward to continuing to work with EQONEX as they further grow their product offering and allow them to focus on building a cryptocurrency and digital assets ecosystem which is compliant, fair, and trusted by investors.”

Frank Copplestone, Head of Investment Products at EQONEX, added: “We are striving to provide investors with access to regulated, high quality, digital asset investment opportunities. We are delighted to work with Apex to bring our first ETN product to market with more to follow. Apex shares our commitment to excellence, and we have been impressed by their specialist knowledge and ability to deliver a service locally which is tailored to our specific needs for this platform.”

EQONEX offers a full suite of trading, custody, and asset management solutions to clients within its digital assets ecosystem which primarily encompasses EQONEX Exchange, a digital asset exchange; Digivault, a FCA accredited hot and cold digital assets custodian and Bletchley Park Asset Management, a fund of crypto-hedge funds.

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