The asset manager has strongly disparaged cryptocurrency investment in the past
Reports this Wednesday suggest that the Julius Baer Group is acting as issuer for a cryptocurrency product. The asset manager, one of the oldest banking institutions in Switzerland, is arguably the largest asset manager now operating in the cryptocurrency space.
Company documents indicate that the structured product is being launched by Block Asset Management, a cryptocurrency investment management firm.
The product will not be subject to authorisation by the Swiss Financial Market Supervisory Authority (FINMA). As such, anyone investing in the cryptocurrency product will not be protected by Swiss investor protection laws and will be exposed to any credit risk that Julius Baer undertakes.
Julius Baer - Learning to love crypto?
Julius Baer will be issuing up to 20,000 of the products. A company document seen by Finance Magnates shows that the products will be issued at $1,000 apiece.
An initial fixing date has been set for the 16th of October. The asset manager defines this as the date during which the initial value and initial composition of the underlying asset are determined.
Accompanying this, an issue date has been set for the 30th October. This means that at the end of October the products will be issued and the issue price, $1,000, will have to be paid.
A lengthy subscription period will also be held. This started on the 16th of August and will end on the 16th of October at 17:30 Central European Time.
Dabbling in cryptocurrency products marks quite a change in tone for Julius Baer. As you can see above, in late 2017, the asset manager published a lengthy blog post on its website entitled “Stay away from Bitcoin and crypto!”
A few months prior to this, the company’s Chief Investment Officer had been equally dismissive of cryptocurrency. Julius Bonz said that Bitcoin was “from the Stone Age” and “unsuitable for an investment portfolio.”
Reports this Wednesday suggest that the Julius Baer Group is acting as issuer for a cryptocurrency product. The asset manager, one of the oldest banking institutions in Switzerland, is arguably the largest asset manager now operating in the cryptocurrency space.
Company documents indicate that the structured product is being launched by Block Asset Management, a cryptocurrency investment management firm.
The product will not be subject to authorisation by the Swiss Financial Market Supervisory Authority (FINMA). As such, anyone investing in the cryptocurrency product will not be protected by Swiss investor protection laws and will be exposed to any credit risk that Julius Baer undertakes.
Julius Baer - Learning to love crypto?
Julius Baer will be issuing up to 20,000 of the products. A company document seen by Finance Magnates shows that the products will be issued at $1,000 apiece.
An initial fixing date has been set for the 16th of October. The asset manager defines this as the date during which the initial value and initial composition of the underlying asset are determined.
Accompanying this, an issue date has been set for the 30th October. This means that at the end of October the products will be issued and the issue price, $1,000, will have to be paid.
A lengthy subscription period will also be held. This started on the 16th of August and will end on the 16th of October at 17:30 Central European Time.
Dabbling in cryptocurrency products marks quite a change in tone for Julius Baer. As you can see above, in late 2017, the asset manager published a lengthy blog post on its website entitled “Stay away from Bitcoin and crypto!”
A few months prior to this, the company’s Chief Investment Officer had been equally dismissive of cryptocurrency. Julius Bonz said that Bitcoin was “from the Stone Age” and “unsuitable for an investment portfolio.”
Broadridge to Bolster Prometheum's Digital Asset Securities Infrastructure
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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