Eqonex introduces its first crypto-linked exchange-traded product

Eqonex (NASDAQ:EQOS) has launched its first cryptocurrency-linked exchange-traded product. Shares are rising 4.5% in Monday morning trading.Specifically, the company introduced its Investment Products business with the listing of a Bitcoin Exchange-Traded Note ("ETN") on the Deutsche Börse XETRA Exchange.That move will be followed by a "pipeline of crypto investment and structured products earmarked for launch in the second half of 2022," Eqonex (EQOS) said.Note that the Bitcoin ETN provides investors based in Germany with direct exposure to bitcoin (BTC-USD) through an exchange-traded, physically-backed product. Moreover, investors can buy and sell the ETN through their existing brokerage accounts and will be able to redeem the underlying bitcoin (BTC-USD) for free using a custody account of Digivault, the company's Financial Conduct Authority registered custody provider.Going forward, "we see the German market as fertile ground for what is likely to be a growing suite of EQONEX exchange-traded products," said Eqonex CEO Jonathan Farnell.In May, Eqonex completed its first Bored Ape Yacht Club NFT over-the-counter trade.