In case you can’t await the Winklevoss Bitcoin ETF on BATS however have entry to the market in Switzerland, excellent news – you’ll be able to very quickly begin speculating on the value of bitcoin. Zurich-headquartered international non-public and funding banking agency Vontobel has now change into the primary Swiss issuer to supply a tracker certificates on bitcoin.
The Vontobel certificates on bitcoin in USD is a traditional tracker certificates (SSPA: 1300), traded transparently on the SIX Swiss Trade. With this funding certificates, buyers in Switzerland will thus for the primary time have the ability to take part in BTC/USD buying and selling with out shopping for the precise underlying asset.
Vontobel explains that the certificates has a two-year time period, and an utility has been submitted for admission to the SIX Swiss Trade. That is topic to bitcoin being authorised as an underlying. The primary day of buying and selling will likely be 15 July 2016, and the ultimate fixing will likely be made on 16 July 2018. Between these dates, buyers will have the ability to commerce the Vontobel certificates on the secondary market, i.e. shopping for or promoting on the relevant bid/supply costs.
Roger Studer, Head of Vontobel Funding Banking
“The brand new bitcoin certificates will for the primary time give buyers a easy and clear technique of investing in bitcoins on the SIX Swiss Trade. Vontobel is thus as soon as once more demonstrating its capability for innovation as one of many main suppliers of structured merchandise,” stated Roger Studer, Head of Vontobel Funding Banking.