If you can’t wait for the Winklevoss Bitcoin ETF on BATS but have access to the market in Switzerland, good news – you can very soon start speculating on the price of bitcoin. Zurich-headquartered global private and investment banking firm Vontobel has now become the first Swiss issuer to offer a tracker certificate on bitcoin.
The Vontobel certificate on bitcoin in USD is a classic tracker certificate (SSPA: 1300), traded transparently on the SIX Swiss Exchange. With this investment certificate, investors in Switzerland will thus for the first time be able to participate in BTC/USD trading without buying the actual underlying asset.
Vontobel explains that the certificate has a two-year term, and an application has been submitted for admission to the SIX Swiss Exchange. This is subject to bitcoin being approved as an underlying. The first day of trading will be 15 July 2016, and the final fixing will be made on 16 July 2018. Between those dates, investors will be able to trade the Vontobel certificate on the secondary market, i.e. buying or selling at the applicable bid/offer prices.
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“The new bitcoin certificate will for the first time give investors a simple and transparent means of investing in bitcoins on the SIX Swiss Exchange. Vontobel is thus once again demonstrating its capacity for innovation as one of the leading providers of structured products,” said Roger Studer, Head of Vontobel Investment Banking.