Malanion BTC Securities Fund Universe UCITS ETF (BTC ETF) Investment Management aims to replicate the outcome of the Melanion Bitcoin Exposure Index (the “Indicator”) as closely as possible regardless of its outcome, whether positive or negative. The index of this passive management is calculated by the net dividend reinvested (the net dividend after taxes paid on the shares that make up the index is included in the index calculation).
Objectives and investment policy
• The objective of this fund is to continue developing the Melanion Bitcoin Exposure Index (the “Index”) as closely as possible regardless of its direction, positive or negative. The index of this passive management is the net estimated dividend reinvested (the after-tax dividend paid by the index components is included in the index return). It is denominated in US dollars. You are exposed to the exchange rate between the currencies in the units that make up the index and the currency of the fund with the net dividend reinvested. The fund will achieve the objective of its management through the method of physical repetition, that is, by investing in a basket of stocks that represent the components of the index.
• The Index is a stock index managed by BITA and calculated by BITA and based on a model designed by Melanion Capital. The index consists of a maximum of 30 securities with a market capitalization greater than MUSD 100 listed on the European and American markets, and companies operating in sectors “encrypt” Asset management and trading, “encrypt” banking and services, “crypto mining” and Blockchain, or companies that have cryptocurrency on their balance sheets.
• The indicator components are selected and weighed based on the basic and quantitative filters defined in the indicator methodology guide.
• A comprehensive description and a complete method for creating the index can be found on the BITA website.
• The management strives to achieve the lowest possible difference between the development of the fund’s net asset value and the index. The goal is the maximum “ex-post Follow up errorBetween changes in the net asset value of the fund and the index is 2%. if Post tracking error After all, it was above 2%, and the goal is still to stay at a level below 15% of the index’s volatility.
• Dividend Policy: The distributable fund amount (if any) will not be distributed to the unit holders but will be reinvested.
The fund tracks the Melanion Bitcoin Exposure Index, which, according to its creator, correlates up to 90% with the price of Bitcoin. The index was designed in-house by Melanion and operated by German fintech company BITA.
The method it is based on aims to bridge the gap between stocks and Bitcoin By capturing the results of a select world of companies listed on regulated US, Canadian and European stock exchanges that show the highest correlation and revenue exposure to bitcoin.
To be eligible for inclusion, a company must either derive at least 50% of its revenue from crypto asset management and trading, crypto banking and related services, crypto mining and the provision of cryptocurrency mining or blockchain technology, or alternatively it must hold assets The cryptocurrency is on its balance sheet and has receivables, either as investment assets, of at least $10 million.
The components of the index are weighted according to their beta coefficient with bitcoin, limited on the basis of liquidity, and rebalanced and reconfigured on a quarterly basis. The number of components in the index is limited to 30.
Beta coefficients are calculated as the covariance between the weekly incoming return and the weekly return of bitcoin divided by the variance of the weekly return of bitcoin.
The ETF has a total cost ratio of 0.75%.
Trade bitcoin ETFs
Malanion BTC Securities Fund Universe UCITS ETF (BTC ETF)It is a European exchange-traded fund that is traded on Euronext Paris.
Euronext Paris is a market that provides access to a few Swedish banks and online brokers Dejero Do it.
|Euronext Paris||American dollar||BTC|
|Argo Blockchain PLC||11.23%|
|Bit Digital Company||6.49%|
|Marathon Digital Holdings Inc||6.26%|
|Riot Blockchain Inc||5.77%|
|Galaxy digital collectibles||4.74%|
|Hut 8 Mining Company||4.68%|
|Blockchain Technologies HIVE||4.42%|
Collectibles may change