Institutional access to Bitcoin: Invesco Physical Bitcoin
Risk considerations
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Investing in cryptocurrencies is high risk. You should only invest in this product if you understand the risks associated with it. Any decision to invest should be based on the information contained in the relevant prospectus. Prospective investors should consult their professional advisers to ascertain the suitability of this product as an investment to their own circumstances.
The value of the product depends on the performance of the underlying investment. Cryptocurrencies do not have any intrinsic value and may become worthless.
Volatility Risk: Cryptocurrencies are subject to extreme price volatility as evidenced by the large daily movements in the price of Bitcoin since its inception. Cryptocurrency markets do not close and so sudden price swings could occur at any time.
Risk of Hacking: A hack of a depositary wallet could result in the loss of the main body of the underlying cryptoassets backing one or more series of certificates. Such a hack could result in a loss of value of the certificates for all the certificateholders of the affected series. Certificateholders of the affected series would risk losing their entire investment.
Liquidity Risk: The product may be adversely affected by a decrease in market liquidity which may impair the ability to exchange cryptocurrencies into fiat currencies.
Regulation Risk in the Market of Cryptocurrencies: The price of cryptocurrency can be affected by factors such as global or regional political conditions and regulatory or judicial events.
For the low cost of 0.39% p.a., institutional investors can now gain access to Bitcoin through our passive Invesco Physical Bitcoin exchange traded product (ETP). Our new ETP is 100% backed by physically held Bitcoin with the aim of delivering the price performance of Bitcoin (less annual fees).
Easy access
Trades like shares on major regulated European stock exchange, with the liquidity of an ETP structure.
Secure & transparent
Institutional-grade custody and safekeeping with Zodia. Bitcoin holdings published daily on our website.
Proven ETP structure
Benefit from Invesco’s expertise in ETPs and the support of best-in-class service providers.
Cryptoasset custody with Zodia
Zodia Custody is a UK-based, FCA-registered cryptoasset custodian for institutional investors. Founded in January 2020, Zodia is majority owned by Standard Chartered Bank and minority owned by Northern Trust. The Bitcoin is held in highly secure and institutional-grade stroage, in favour of the Trustee on behalf of investors. Zodia Custody is responsible for the security of assets through cutting-edge technological innovation, cybersecurity, platform, and storage.
Index sponsored by CoinShares
CoinShares, Europe’s largest and longest standing digital asset investment firm, is the index sponsor and serves as the execution agent for the Physical Bitcoin ETP. The value of the Bitcoin held by the ETP is determined by the CoinShares Bitcoin Reference Rate – 4pm Fixing1, which reflects real-time trade prices, recorded on a minute-by-minute basis, on the most liquid and reputable digital exchanges. The benchmark is calculated by Compass Financial Technologies, a BMR-registered benchmark provider.
Find out more about our ETP
Footnotes
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1 Index calculated by Compass Financial Technologies.
Investment risks
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Investing in cryptocurrencies is high risk. You should only invest in this product if you understand the risks associated with it. Any decision to invest should be based on the information contained in the relevant prospectus. Prospective investors should consult their professional advisers to ascertain the suitability of this product as an investment to their own circumstances.
The value of the product depends on the performance of the underlying investment. Cryptocurrencies do not have any intrinsic value and may become worthless.
Volatility Risk:
Cryptocurrencies are subject to extreme price volatility as evidenced by the large daily movements in the price of Bitcoin since its inception. Cryptocurrency markets do not close and so sudden price swings could occur at any time.Risk of Hacking:
A hack of a depositary wallet could result in the loss of the main body of the underlying cryptoassets backing one or more series of certificates. Such a hack could result in a loss of value of the certificates for all the certificateholders of the affected series. Certificateholders of the affected series would risk losing their entire investment.Liquidity Risk:
The product may be adversely affected by a decrease in market liquidity which may impair the ability to exchange cryptocurrencies into fiat currencies.Regulation Risk in the Market of Cryptocurrencies:
The price of cryptocurrency can be affected by factors such as global or regional political conditions and regulatory or judicial events.Index Warning
The index is calculated by Compass Financial Technologies. Compass Financial Technologies uses its best efforts to ensure that the index is calculated correctly. Notwithstanding its obligations towards CoinShares, Compass Financial Technologies SA has no obligation to point out errors in the index to third parties including without limitation to investors and/or financial intermediaries. The calculation, the publication and the dissemination of the index by Compass Financial Technologies SA does not constitute a recommendation by Compass Financial Technologies SA to invest capital in the securities nor does it in any way represent an assurance or opinion of Compass Financial Technologies SA with regard to any investment therein. Purchasers of the CoinShares are made aware, and accept, that index calculations are based on large quantities of data provided by third parties and are thus susceptible to errors, interruptions and delays.
Important information
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This marketing communication contains information that is for discussion purposes only and is intended only for professional investors in Portugal. It is not intended for and should not be distributed to, or relied upon, by the public. Marketing materials may only be distributed in other jurisdictions in compliance with private placement rules and local regulations.
Data as at November 2021, unless otherwise stated.
By accepting this marketing communication, you consent to communicating with us in English, unless you inform us otherwise.
All investment decisions must be based only on the most up to date legal offering documents. The legal offering documents (Key Information Document (KID), Base Prospectus and annual & semi-annual reports) are available free of charge at our website etf.invesco.com and from the issuers.
This marketing communication is not intended as a recommendation to buy or sell any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication.
This marketing communication should not be considered financial advice. Persons interested in acquiring the product should inform themselves as to (i) the legal requirements in the countries of their nationality, residence, ordinary residence or domicile; (ii) any foreign exchange controls and (iii) any relevant tax consequences.
Costs may increase or decrease as result of currency and exchange rate fluctuations. Consult the legal documents for further information on fees and other charges.
Where individuals or the business have expressed opinions, they are based on current market conditions, they may differ from those of other investment professionals and are subject to change without notice.
The index is calculated by Compass Financial Technologies. Compass Financial Technologies uses its best efforts to ensure that the index is calculated correctly. Notwithstanding its obligations towards CoinShares, Compass Financial Technologies SA has no obligation to point out errors in the index to third parties including without limitation to investors and/or financial intermediaries. The calculation, the publication and the dissemination of the index by Compass Financial Technologies SA does not constitute a recommendation by Compass Financial Technologies SA to invest capital in the securities nor does it in any way represent an assurance or opinion of Compass Financial Technologies SA with regard to any investment therein. Purchasers of the CoinShares are made aware, and accept, that index calculations are based on large quantities of data provided by third parties and are thus susceptible to errors, interruptions and delays.
The content of this website has been communicated by Invesco Management S.A., President Building, 37A Avenue JF Kennedy, L-1855 Luxembourg, regulated by the Commission de Surveillance du Secteur Financier, Luxembourg.
EMEA1941882/2021
