Bitwise lists Diaman Bitcoin & Gold ETP on Deutsche Börse Xetra

Exposure to Bitcoin and gold through a rules-based index methodology
ETP designed to simultaneously provide exposure to both growth-oriented and defensive assets
Dynamic allocation framework based on market trends and volatility indicators
Product developed in cooperation with Diaman Partners, a UCITS fund manager backed by Azimut

Bitwise today announces the listing of the Bitwise Diaman Bitcoin & Gold ETP (ticker: BTCG; ISIN: DE000A4AKW34) on Deutsche Börse Xetra. The ETP i nitially listed on Euronext Paris and Amsterdam and is issued and domiciled in Germany.

The ETP physically replicates the Diaman Bitcoin & Gold Index, which applies a dynamic, rules-based allocation between Bitcoin and gold. The index methodology adjusts the relative weight of each asset based on predefined risk indicators, with the objective of reflecting changing market conditions over time. The approach is designed to provide exposure to assets with different characteristics within a single exchange-traded structure, allowing investors to gain exposure to the characteristics of both Bitcoin and gold.

Bradley Duke, Managing Director and Head of Europe at Bitwise, commented: “At Bitwise, we are delighted to be able to list Bitwise Diaman Bitcoin & Gold ETP (“BTCG”) on Xetra, bringing such an innovative product to the largest European exchange for Crypto ETPs. We are very proud of the work we did with Diaman Partners in bringing BTCG to investors, offering exposure to Bitcoin and Gold, two assets with historically different correlation characteristics."

The ETP rebalances Bitcoin and gold allocations monthly based on the Diaman Bitcoin & Gold index methodology that uses ULCER indices, a volatility measure originally developed in the late 1980s, to assess downside risk and inform allocation decisions. The ETP is fully backed by physical Bitcoin and by Pax Gold (PAXG), a token linked to physical gold held in LBMA-accredited vaults in London. The underlying assets are held with an institutional custodian using offline (cold-storage) custody arrangements.

Daniele Bernardi, CEO of Diaman Partners, said: “The Bitcoin & Gold Index has been designed to provide investors with dynamic exposure to two scarce, complementary assets, capable of contributing to portfolio diversification: Bitcoin and gold. The listing on Xetra expands the range of trading venues on which BTCG ETP is available.”

Gold and Bitcoin in a Changing Macro Environment

Gold and Bitcoin have historically exhibited different behaviours across market environments. Gold has generally shown lower volatility relative to many risk assets during periods of market stress, while Bitcoin has tended to display higher volatility and greater sensitivity to changes in investor risk appetite. As a result, the two assets may respond differently to macroeconomic developments and market cycles.

Recent economic, monetary, and geopolitical developments have renewed interest in assets often perceived as stores of value. Gold has traditionally fulfilled this role, supported by its physical scarcity and long-standing role in financial markets. Bitcoin, by contrast, has emerged as a digital asset with distinct structural characteristics, including a defined supply framework and the ability to be transferred without reliance on centralized intermediaries.

Key Product Details

ETP Name	Bitwise Diaman Bitcoin & Gold ETP
Primary Ticker	BTCG
ISIN	DE000A4AKW34
Listings	Xetra, Euronext PR & AMS, NASDAQ Stockholm
TER	1.49% p.a.
Domicile	Germany
Underlying	Diaman Bitcoin & Gold Index
Replication method	Physical (full replication)

More information about the product is provided on the respective product page https://bitwiseinvestments.eu/products/bitwise-diaman-bitcoin-gold-etp/.

Investing in crypto-linked products is high risk and you could lose some or all of your investment. Crypto markets are highly volatile and prices can move sharply and unpredictably. Liquidity may be limited, which can affect your ability to buy or sell at the price you expect. There are additional risks relating to the product structure (including issuer/credit risk), custody and operational risks, and evolving regulation. A Key Information Document (KID) is available and should be read before making any investment decision. The prospectus, KID and final terms are available at https://bitwiseinvestments.eu/resources/#Documents and contain further information on risks and product features.

You are at risk of losing part of or your entire capital invested. For complete information please visit www.bitwiseinvestments.eu

About Diaman Partners

Diaman Partners is an asset management company specializing in UCITS and alternative funds. The company leverages advanced algorithms and human expertise to manage all investment processes effectively. With over 20 years of experience, Diaman Partners began its journey in Northern Italy, where its quantitative models and rigorous processes have consistently delivered tangible results, demonstrating know-how, expertise and professionalism. In July 2022, global asset and wealth manager Azimut, which is listed on the Milan stock exchange, acquired a stake in Diaman Partners to act as Azimut's digital assets arm of the business.

About Bitwise

Bitwise is a crypto specialist asset manager with over $15 billion in client assets. Thousands of financial advisors, family offices, and institutional investors across the globe have partnered with us to understand and access the opportunities in crypto. Since 2017, Bitwise has been managing a broad suite of index and active solutions across ETPs, separately managed accounts, private funds, and hedge fund strategies – spanning both the U.S. and Europe.

Bitwise's European products comprise a collection of carefully designed financial instruments that can be integrated into traditional stock portfolios, subject to platform eligibility, aiming to provide comprehensive exposure to crypto as an asset class. This suite of crypto ETPs is domiciled in Germany and issued under a base prospectus approved by BaFin, and from time to time under a base prospectus approved by the UK FCA. Bitwise exclusively partners with reputable entities from the traditional financial industry, ensuring that 100% of the assets are securely stored offline (cold storage) through regulated custodians.

ETPs can typically be bought and sold through third-party brokers where available. Any redemption mechanism operates within the product structure and may not be available to all investors. For more information, visit http://www.bitwiseinvestments.eu

Media contacts:

JEA Associates
John McLeod
00 44 7886 920436
john@jeaassociates.com

Important information

This communication is for information purposes only and does not constitute investment advice, opinions are those of Bitwise and do not constitute an offer or solicitation to buy any financial products or cryptocurrencies. This press release is issued by Bitwise Europe GmbH ("BEU"), a limited company domiciled in Germany, for information only and in accordance with all applicable laws and regulations. BEU gives no explicit or implicit assurance or guarantee regarding the fairness, accuracy, completeness, or correctness of this article or the opinions contained therein. It is advised not to rely on the fairness, accuracy, completeness, or correctness of this article or the opinions contained therein. Please note that certain products may not be available in all jurisdictions or may be offered exclusively to professional or qualified investors, as defined under applicable laws and regulations, including MiFID II (EU), the Financial Services and Markets Act (UK), and the Swiss Financial Services Act (FinSA). Investors should consult their legal or financial advisors for guidance before making any financial decision. References to ISK relate to account wrapper availability only and do not constitute tax advice. Tax treatment depends on individual circumstances and may change. For more details, please visit our website or contact us directly via europe@bitwiseinvestments.com.

Opinions are those of Bitwise at the date of publication. They can change and there is no guarantee they will be met.

Diversification does not guarantee profits or protection against losses.

Before investing in crypto Exchange Traded Products ("ETPs"), potential investors should consider the following:

Potential investors should seek independent advice and consider relevant information contained in the base prospectus and the final terms for the ETPs, especially the risk factors. Diversification does not guarantee a profit or protect against a loss. ETPs issued by BEU are suitable only for persons experienced in investing in cryptocurrencies and risks of investing can be found in the prospectus and final terms available on www.bitwiseinvestments.eu. The invested capital is at risk, and losses up to the amount invested are possible. ETPs backed by cryptocurrencies are highly volatile assets and performance is unpredictable. Past performance is not a reliable indicator of future performance. The market price of ETPs will vary and they do not offer a fixed income or match precisely the performance of the underlying cryptocurrency. Investing in ETPs involves numerous risks including general market risks relating to underlying, adverse price movements, currency, liquidity, operational, legal and regulatory risks.

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Risks of ETPs & Cryptocurrencies

An investment in an ETP backed by one or more cryptocurrencies, such as those issued by BEU, is dependent on the performance of the underlying cryptocurrency, less costs, but it is not expected to match the performance of the underlying asset precisely. Investing in ETPs also involves numerous risks including general market risks relating to underlying, adverse price movements, currency, liquidity, operational, legal and regulatory risks and investors should be prepared to lose some or all of the amount invested.

ETPs backed by cryptocurrencies are highly volatile assets and performance is unpredictable. Past performance is not a reliable indicator of future performance. The market price of ETPs will vary and they do not offer a fixed income. The value of any ETP may be affected by exchange rates and the price movement of its underlying cryptocurrency(ies). This website may contain forward looking statements including statements regarding Bitwise Europe’s belief or current expectations with regards to the performance of certain asset classes. Forward looking statements are subject to certain risks, uncertainties and assumptions, and there can be no assurance that such statements will be accurate and actual results could differ materially from those indicated. You must not place reliance on forward-looking statements or any other similar information contained in this website.

Cryptocurrencies are highly volatile and are known for their extreme and rapid fluctuations in prices. While there may be potential for significant gains, you are at risk of losing part or all of your entire capital invested. The price of cryptocurrencies can fluctuate widely and, for example, may be impacted by global and regional political, economic or financial events, regulatory events or statements by regulators, investment trading, hedging or other activities by a wide range of market participants, forks in underlying protocols, disruptions to the infrastructure or means by which crypto assets are produced, distributed, stored and traded. Characteristics of cryptocurrencies and divergence of applicable regulatory standards create the potential for market abuse. The price of cryptocurrencies may also change due to shifting investor confidence in future outlook of the asset class.

For a detailed overview of risks associated with cryptocurrencies and specifically associated with BEU’s products, please refer to the prospectus and final terms, which are available in the “Resources” section of the Bitwise Europe website at bitwiseinvestments.eu/resources/. You should only invest if you are capable of understanding and evaluating the risks involved. If you are in doubt as to whether an investment is appropriate for you, you should consult an authorised person who specialises in advising on investments including crypto-backed ETPs.