First Bitcoin Tracker Certificate to Be Issued on Swiss Exchange

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 Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term. 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 Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term. 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.

"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.