Broker introduces 3 new exchange-traded products for crypto investments.
This way, the company is expanding crypto access beyond CFDs.
As
expected, the introduction of Bitcoin exchange-traded funds (ETFs) has spurred another wave of demand
for cryptocurrencies. However, European traders can't invest directly in these increasingly popular instruments.
To solve
this issue, the Polish brokerage firm XTB (WSE: XTB) has just offered an alternative to
these instruments, announcing the addition of three new exchange-traded
products. This move gives investors more ways to gain exposure to the digital
assets.
XTB Introduces New
Investment Options for Cryptocurrencies
The latest offerings comprise two exchange-traded notes (ETNs) focused solely on Bitcoin and
one ETN based on a mix of the ten most popular cryptocurrencies. These introductions coincide with escalating investor interest in crypto assets, particularly as new Bitcoin ETFs launch in the US.
"We
are regularly answering investors' questions about when they can start
investing in Bitcoin ETFs in Europe," said Filip Kaczmarzyk, the Member of
the XTB Management Board. "While we don't know the answer, we wanted to
find an alternative given the interest in crypto."
Starting
from this week, XTB's offering will include three new ETNs:
BTCetc
Bitcoin Exchange Traded Crypto,
VanEck
Bitcoin ETN,
VanEck
Crypto Leaders ETN.
XTB said it
decided to add ETNs given their long-standing availability in Europe. Over the
years, leading brokers have used them to give clients access to hard-to-reach
assets.
"Until
now, XTB offered the possibility of investing in cryptocurrencies only through
CFD contracts," Kaczmarzyk added. "However, seeing the demand from
investors, we decided to find an alternative for those who are looking for
similar opportunities that American ETFs offer."
ETNs are debt securities that are designed to track the performance of
an underlying asset or index. They have gained popularity among investors
looking for easy access and tax advantages. But, how exactly do they work?
ETNs are
issued by financial institutions like banks. When investing in an ETN, you
essentially lend money to the issuing bank. In return, the bank promises to pay
you back the principal plus or minus any changes in the value of the index or
asset that the ETN tracks.
ETNs
function similarly to ETFs in that they trade on exchanges like stocks. One
major advantage of ETNs is the tax treatment. Unlike funds that distribute
dividends, ETN investors defer all taxes until sale or maturity. At that point,
profits are taxed as long-term capital gains, which can mean significant tax
savings. However,
they carry more risk as they are unsecured debt instruments. If the issuer goes
bankrupt, investors may lose their investment.
XTB Reports 2023 Numbers
and Presents 2024 Roadmap
XTB has
unveiled its preliminary financial results for 2023, showcasing a remarkable elevation of 51% in active clients, totaling 311,971. Despite market volatility and
inflationary pressures, the company achieved a year-over-year (YoY) growth of 3%
in net profit, amounting to PLN 791.3 million.
The revenue
also saw a significant uptick, with a YoY increase of 10% to PLN 1,588.2 million,
attributed to the improved volatility in financial and commodity markets and a
substantial growth in its customer base.
In addition
to its financial achievements, XTB has announced its product roadmap for 2024.
This roadmap signifies the company's evolving focus towards passive
investments, social trading, and the advanced application of AI technology,
moving beyond its roots in the FX/CFD industry.
Among the
notable initiatives is the plan to expand its fixed-income offerings, making
bond investments more accessible through a mechanism akin to fractional shares.
Starting from investments as low as EUR 10, XTB will offer a diversified
portfolio that includes a mix of government and corporate bonds, prioritizing
high ESG ratings and secure ratings between AAA to BBB.
As
expected, the introduction of Bitcoin exchange-traded funds (ETFs) has spurred another wave of demand
for cryptocurrencies. However, European traders can't invest directly in these increasingly popular instruments.
To solve
this issue, the Polish brokerage firm XTB (WSE: XTB) has just offered an alternative to
these instruments, announcing the addition of three new exchange-traded
products. This move gives investors more ways to gain exposure to the digital
assets.
XTB Introduces New
Investment Options for Cryptocurrencies
The latest offerings comprise two exchange-traded notes (ETNs) focused solely on Bitcoin and
one ETN based on a mix of the ten most popular cryptocurrencies. These introductions coincide with escalating investor interest in crypto assets, particularly as new Bitcoin ETFs launch in the US.
"We
are regularly answering investors' questions about when they can start
investing in Bitcoin ETFs in Europe," said Filip Kaczmarzyk, the Member of
the XTB Management Board. "While we don't know the answer, we wanted to
find an alternative given the interest in crypto."
Starting
from this week, XTB's offering will include three new ETNs:
BTCetc
Bitcoin Exchange Traded Crypto,
VanEck
Bitcoin ETN,
VanEck
Crypto Leaders ETN.
XTB said it
decided to add ETNs given their long-standing availability in Europe. Over the
years, leading brokers have used them to give clients access to hard-to-reach
assets.
"Until
now, XTB offered the possibility of investing in cryptocurrencies only through
CFD contracts," Kaczmarzyk added. "However, seeing the demand from
investors, we decided to find an alternative for those who are looking for
similar opportunities that American ETFs offer."
ETNs are debt securities that are designed to track the performance of
an underlying asset or index. They have gained popularity among investors
looking for easy access and tax advantages. But, how exactly do they work?
ETNs are
issued by financial institutions like banks. When investing in an ETN, you
essentially lend money to the issuing bank. In return, the bank promises to pay
you back the principal plus or minus any changes in the value of the index or
asset that the ETN tracks.
ETNs
function similarly to ETFs in that they trade on exchanges like stocks. One
major advantage of ETNs is the tax treatment. Unlike funds that distribute
dividends, ETN investors defer all taxes until sale or maturity. At that point,
profits are taxed as long-term capital gains, which can mean significant tax
savings. However,
they carry more risk as they are unsecured debt instruments. If the issuer goes
bankrupt, investors may lose their investment.
XTB Reports 2023 Numbers
and Presents 2024 Roadmap
XTB has
unveiled its preliminary financial results for 2023, showcasing a remarkable elevation of 51% in active clients, totaling 311,971. Despite market volatility and
inflationary pressures, the company achieved a year-over-year (YoY) growth of 3%
in net profit, amounting to PLN 791.3 million.
The revenue
also saw a significant uptick, with a YoY increase of 10% to PLN 1,588.2 million,
attributed to the improved volatility in financial and commodity markets and a
substantial growth in its customer base.
In addition
to its financial achievements, XTB has announced its product roadmap for 2024.
This roadmap signifies the company's evolving focus towards passive
investments, social trading, and the advanced application of AI technology,
moving beyond its roots in the FX/CFD industry.
Among the
notable initiatives is the plan to expand its fixed-income offerings, making
bond investments more accessible through a mechanism akin to fractional shares.
Starting from investments as low as EUR 10, XTB will offer a diversified
portfolio that includes a mix of government and corporate bonds, prioritizing
high ESG ratings and secure ratings between AAA to BBB.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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