Bitcoin ETF (EBTC) – Global X ETFs Australia

EBTC


Bitcoin ETF

Australia’s first and only spot Bitcoin ETF

Reasons to Consider EBTC

Bitcoin Exposure

EBTC provides holders an interest in Bitcoin held in cold storage by Coinbase, the world's largest custodian of cryptocurrencies.

Regulated Environment

Allows investors a way to trade Bitcoin in a tightly regulated environment on stock exchanges.

ETF Efficiency

EBTC delivers efficient access to Bitcoin in a single trade without the worry of losing the private key to your wallet.

Product Information As of 22 May 2024

Inception Date 9 May 2022
Management Costs (% p.a.) 1.25
Currency Hedged No
Domicile Australia
Legal Form Managed Investment Trust
SMSF Eligible Yes

Coin Entitlement As of 22 May 2024

BTC 0.000099563
Download PCF

NAV Information As of 22 May 2024

NAV/Unit (A$) 10.29030000
iNAV 9.90
iNAV as of 04:59 PM
Currency (NAV) AUD
Shares Outstanding 10,498,057
AUM (A$) 108,958,417.30
NAV History File View

Product Summary

The Global X 21Shares Bitcoin ETF (EBTC) offers exposure to physical Bitcoin.

Product Objective

The Global X 21Shares Bitcoin ETF (EBTC) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of Bitcoin in Australian Dollars.

Trading Details

Ticker EBTC
Bloomberg Code EBTC AU Equity
ISIN AU0000198020
Trading Hours 10:00AM – 4:00PM

Management & Administration

Issuer Global X Management (AUS) Limited
Custodian Coinbase Custody Trust Company, LLC
Registrar Computershare Investor Services Pty Limited

Benchmark Information

Benchmark CryptoCompare’s Crypto Coin Comparison Aggregated Index (Bitcoin)

Distributions

Distribution Frequency None

Performance Table As of 23 May 2024

Total Return (Fund) Total Return (Benchmark) Tracking Difference Tracking Error
1 Month -1.26% -1.16% -0.10% 0.01%
3 Months 31.28% 31.67% -0.40% 0.02%
1 Year 144.53% 147.61% -3.08% 0.05%
3 Year p.a. -- -- -- --
5 Year p.a. -- -- -- --
10 Year p.a. -- -- -- --
Since Inception p.a. 45.25% 47.08% -1.82% 0.13%

Research

FAQs

  • Why buy EBTC rather than Bitcoin directly?

    Since the crypto market is still relatively young, there can be issues with buying it directly. These include low exchange quality, weak custody arrangements, vulnerability to security problems, the loss of private keys and passwords, and much more. At Global X, our mission is to bring a higher quality Bitcoin proposition than what is already available to Australians.

    EBTC is 100% physically backed by Bitcoins, the private keys to which are segregated, and deposited into an offline wallet, also known as "cold storage". Investors can invest directly through their existing brokerage account and do not require any resources for the management, custody and security of Bitcoin.
  • What is cold storage?

    There are various ways to secure a Bitcoin wallet, the popular ones being to encrypt a wallet by using a strong password or to make a backup of the wallet. However, the best method is cold storage which involves storing Bitcoin private keys offline, meaning away from any internet access. Keeping Bitcoins offline substantially reduces the threat of hacking. As an additional layer of security, all movements from these cold storage accounts require approvals from multiple individuals, as the private keys are “sharded” – meaning they are broken up and distributed across many global servers– before funds can be released.
  • Who is the custodian?

    Coinbase is the custodian. Coinbase’s vault has become the preferred storage of many institutions and it holds one of the largest stores of Bitcoins. The vault offers advanced encryption and key management, multi-signature Bitcoin addresses, military-grade physical security (like Faraday cages and former military bases) and highly secure processes to keep Bitcoins offline and geographically dispersed across three continents. The key to this process is removing all access to private keys via the internet by physically isolating them.
  • How is the net asset value (NAV) calculated?

    The net asset value, or NAV, of an ETF that holds shares is usually calculated using share prices at the close of trading. However, cryptocurrencies trade around the clock: there is no close. As such, the NAV of EBTC must be calculated using a reference benchmark.

    For our purposes, we calculate the NAV by multiplying the coin entitlement of every outstanding EBTC unit by the price of bitcoin, as measured by CryptoCompare at 5pm Central European time. We then convert that amount into AUD using the WM/Refinitiv London 4pm AUD rate. We use European time as our partner, 21Shares, is based in Switzerland.
  • What is the coin entitlement?

    If you own EBTC, you have an entitlement to Bitcoin. How much Bitcoin you are entitled to per ETF is called the coin entitlement. It is calculated very simply as the total amount of Bitcoin held by EBTC divided by the number of units on issue (less fees and costs).
  • How can I use EBTC in a portfolio?

    Bitcoin has been one of the best-performing assets for the past 10 years. Meaning that it may be used as an alpha tilt or side bet in a portfolio. However past performance is not an indication of future performance. Alternatively, as cryptocurrency like Bitcoin is a completely different asset class and uncorrelated to shares, bonds, and commodities like gold, Bitcoin can be bought as a portfolio diversifier.

Global X Management (AUS) Limited (“Global X”) (Australian Financial Services Licence Number 466778, ACN 150 433 828) is the product issuer. Offers of interests in any retail product will only be made in, or accompanied by, a Product Disclosure Statement (PDS). In respect of each retail product, Global X has prepared a target market determination (TMD). Each PDS and TMD is available at www.globalxetfs.com.au. The information on this website is general in nature only and does not take into account your personal objectives, financial situations or needs. Before acting on any information, you should consider the appropriateness of the information having regard to your objectives, financial situation or needs and consider seeking independent financial, legal, tax and other relevant advice having regard to your particular circumstances. Any investment decision should only be made after obtaining and considering the relevant PDS and TMD. Investments in any product issued by Global X are subject to investment risk, including possible delays in repayment and loss of income and principal invested. The value or return of an investment will fluctuate and an investor may lose some or all of their investment. Past performance is not a reliable indicator of future performance.

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