Swiss-based bank Vontobel has announced the issue of first bitcoin tracker certificate in Switzerland which offers investors a simple means for investing in bitcoin.
Experts predict that there could be rise in the price of bitcoin following the halving of bitcoin block mining reward expected to take place this month. According to the official release, Vontobel's issue of bitcoin tracker certificate will enable investors in Switzerland to participate in this positive development in the bitcoin price with a product that can be traded simply and transparently on the SIX Swiss Exchange.
"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," Roger Studer, Head of Vontobel Investment Banking said.
An application has been submitted for admission of the certificate into the SIX Swiss Exchange which is subject to approval of bitcoins as an underlying. The certificate has a two-year term where trading will begin on 15th of this month and the final fixing will be made on 16 July 2018.
During the two year term, investors can trade the Vontobel certificate by buying or selling at the applicable offer prices.
Vontobel is a globally oriented Swiss private bank that is headquartered in Zurich. It was established in 1936 and has around 1,500 employees worldwide. The company Specializes in active asset management and tailor-made investment solutions, and provides responsible and forward looking advice. The registered shares of Vontobel Holding AG are listed on the SIX Swiss Exchange.
