/biz/ - Business & Finance

1) An ETN was registered into the Germany business registry as of 2020-07-10 with the UBT name
2) Iconic Funds is the biggest holder of UBT in their wallet
3) The use of ICNQ token to pay the management fees for the UBT, BTC and XRP ETNs will be 2% of the managed value
4) The business model requires UBT to be purchased on the open market(i.e IDEX) then it will be tracked 1:1 in the UBT ETN
5) This will expose the big regulated investors to the first DeFi approved product ever, instead of going through buying it on Uniswap or IDEX
6) This creates an upwards price pressure since those kind of organizations doesn't buy to trade for a few days, but buys as investment over a long time
7) As you can see in the picture, there is also other ETN companies registered, which all will require the ICNQ token as management fee