Today, MV Index Solutions GmbH (MVIS®) announced the licensing of the MVIS CryptoCompare Bitcoin VWAP Close Index (ticker: MVBTCV) to VanEck for the use as an underlying index for a Bitcoin exchange traded note (ETN). With this new product, investors can participate directly in the performance of the leading cryptocurrency Bitcoin without having to buy it directly.
Purchasing the newly listed ETN is as simple as trading in stocks or ETFs; a so-called wallet, customary with cryptocurrencies, in which Bitcoin is stored separately from the rest of the portfolio on the blockchain, is not required.
“Bitcoin's historically relatively low correlation to other asset classes makes it an excellent way to contribute to the diversification of a portfolio,” says Martijn Rozemuller, Head of Europe at VanEck. “With our new ETN, we offer a product that allows investors to benefit from the performance of Bitcoin.”
The MVIS CryptoCompare Bitcoin VWAP Close Index (ticker: MVBTCV) is an index designed to measure the performance of a digital assets portfolio which invests in Bitcoin, with a closing value based on an hourly VWAP price.
“We are proud to be the index provider for this trailblazing product,” said Steven Schoenfeld, CEO at MV Index Solutions. “The MVBTCV index enhances investor confidence by accurately tracking the Bitcoin price, and is a key member of our growing Digital Asset Index family, which continues to pioneer the cryptocurrency space,” he continued.
The MVIS CryptoCompare Bitcoin VWAP Close Index (ticker: MVBTCV) is a rules based index which covers the broadest CCCAGG pricing for indices provided by CryptoCompare.
Detailed information about the index including methodology details and index data are available on MV Index Solutions website.
Key Index Features
MVIS CryptoCompare Bitcoin VWAP Close Index (ticker: MVBTCV)
Number of Components: 1
Base Date: 12/31/2014
Base Value: 100
Note to Editors:
About MV Index Solutions - www.mvis-indices.com
MV Index Solutions (MVIS®) develops, monitors and licenses the MVIS Indices and BlueStar Indexes, a selection of focused, investable and diversified benchmark indices. The indices are especially designed to underlie financial products. MVIS Indices cover several asset classes, including equity, fixed income markets and digital assets and are licensed to serve as underlying indices for financial products. Approximately USD 19.72 billion in assets under management (as of 24 November 2020) are currently invested in financial products based on MVIS Indices. MVIS is a VanEck company.
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