A product has just been launched which enables Swiss investors who expect a positive development in the Bitcoin price to trade transparently on the SIX Swiss Exchange for the first time.
This is from the Swiss bank Vontobel who manage and monitor a client’s assets entrusted to it. It also observes the financial markets and interprets global macroeconomic developments, as it becomes the first Swiss issuer of a tracker certificate on Bitcoins for subscription.
The Vontobel certificate on Bitcoin in USD is a classic tracker certificate (SSPA: 1300) which offers investors a simple means of investing in Bitcoin.
Philipp Krall , Director and Advisor, Financial Products, says to CoinTelegraph: “The idea of the product is to give investors the possibility to participate in the development of the Bitcoin price in USD without having to own Bitcoins themselves. Rather they can participate by owning a simple bankable asset, namely this tracker certificate. The product is particularly suitable for investors who anticipate a rise in the acceptance and significance of Bitcoin as a way of payment and as an alternative currency.” Vontobel investment certificate
With this investment certificate, investors in Switzerland will for the first time be able to participate in the development of the Bitcoin price vs the USD. The certificate has a two-year term. An application has been submitted for admission to the SIX Swiss Exchange subject to Bitcoins being approved as a means of payment.
Between the first day of trading on 15 July 2016 and the final fixing on 16 July 2018., investors will be able to trade the Vontobel certificate on the secondary market i.e. buying or selling at the applicable bid/offer prices. Impact on Bitcoin price
Krall explains: “The fixing is done on the 15th of July. This means that we will buy the Bitcoins according to the […]
