ITI Capital has been appointed as Authorised Participant (AP) by ETC Issuance GmbH, the Issuer of BTCE, to offer redemption services to investors. APs are licensed and regulated financial intermediaries, and as such apply strict anti-money laundering controls and due diligence.
In order to redeem their units of BTCE for Bitcoin through ITI Capital holders of BTCE must:
Onboard as a client of ITI Capital for no charge by contacting firstname.lastname@example.org
Onboarding means submitting to ITI Capital's KYC/AML verification process, which is required before BTCE holders can open an account where to which they can transfer their BTCE securities. This usually takes between 3-5 business days to complete.
BTCE holders who have completed onboarding and who wish to redeem their BTCE for Bitcoin must email email@example.com
from their registered email address, stating their account number and number of units they wish to redeem. T+2 settlement can be achieved if instruction is received prior to midday (12.00) London time.
Please note: BTCE holders wishing to redeem can receive Bitcoin either into their own wallet, or keep Bitcoin in custody with ITI Capital.