Amdax initiates Amsterdam Bitcoin Treasury Strategy (AMBTS)
Amdax, one of the Netherlands’ leading crypto service providers, has initiated AMBTS B.V. (‘AMBTS’), with the intention of listing a Bitcoin treasury company on Euronext Amsterdam. The long-term ambition of AMBTS is to become a 1% Bitcoin treasury company¹ over time and unlock a compelling investment opportunity for institutional investors.
Amid persistent inflation, geopolitical instability and increasing regulatory clarity, the interest in Bitcoin continues to grow, especially as there is low correlation with other asset classes. This results in a growing adoption by institutions and governments, adding bitcoin to their portfolios. For Europe, strengthening its own autonomous digital asset industry is an important step to ensure participation in this rapidly developing market. As a regulated and experienced player, Amdax believes it is well-placed to initiate a Bitcoin treasury company in the EU that can stand alongside global peers.
Amdax has been operating a fully licensed digital asset practice for over 5-years, having made significant investments in regulation and operates with a robust compliance and risk framework. In 2020, Amdax became the first crypto service provider in the Netherlands to register with the Dutch Central Bank (DNB). Since then, Amdax has taken major steps in governance, risk control, and independent oversight, including successful completion of ISAE 3000 type II audits. More recently, Amdax was among the first crypto-asset service providers to receive its MiCAR license from the Dutch Authority for the Financial Markets (AFM). With this license, Amdax complies with the new European regulation for crypto markets: the Markets in Crypto-Assets Regulation (MiCAR).
Lucas Wensing, CEO of Amdax: “While Bitcoin has been the best performing major asset in the past 10 years with fast adoption as digital capital, it is still relatively small in investment portfolios. With now over 10% of bitcoin supply held by corporations, governments and institutions, we think the time is right to establish a Bitcoin treasury company with the aim to obtain a listing on Euronext Amsterdam, as one of the leading exchanges in Europe. This will provide institutional investors with new financial instruments to get exposure to the performance of bitcoin.”
Amdax is the main initiator behind AMBTS, which will operate as a stand-alone company with a focused corporate strategy. AMBTS will benefit from its connection with Amdax while maintaining an arms-length relationship. A private limited liability company (besloten vennootschap met beperkte aansprakelijkheid, B.V.) has been established, and AMBTS will have its own independent governance.
Amdax and AMBTS plan to raise capital from a number of private investors in an initial financing round. Upon completion of the initial financing, the proceeds are expected to be used to make a head start with the bitcoin accumulation strategy. The initial financing is subject to execution of definitive documentation and other customary closing conditions. AMBTS is in advanced stages of its preparations for a listing on Euronext Amsterdam through an initial public offering.
Following listing, the long-term ambition of AMBTS is to grow its business operations to become a 1% treasury, owning at minimum 1% of all bitcoin over time. It intends to leverage capital markets in multiple steps to increase its bitcoin holdings and sequentially generate equity appreciation and grow bitcoin per share for its shareholders, subject to market and other conditions.
