Bitcoin Tracker Certificate Issued on Swiss Exchange

Zurich-based private and investment banking firm Vontobel has become the first Swiss issuer to offer a tracker certificate on bitcoin.

Global private and investment banking institution Vontobel will become the first Swiss issuer to offer a bitcoin tracker certificate for subscription.

Based on a classic tracker certificate (SSPA: 1300), the newly announced certificate on Bitcoin in USD will enable investors with a more streamlined, efficient way to invest in bitcoin. For the first time, investors in Switzerland can participate in bitcoin price development against the USD, as a result of the certificate.

The application for the certificate has been submitted for admission to the SIX Swiss Exchange and has a two-year term, Vontobel revealed. The application is subject to the approval of bitcoin as an underlying asset.

July 15, 2016, will be the first day of trading while the final fixing date will be made on July 16, 2018. Investors will be able to use the secondary market to trade the certificate or “buying or selling at the applicable/bid offer prices,” Vontobel noted.

Roger Studer, head of Vontobel Investment Banking said in a statement:

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.

To the north of Switzerland, Sweden recently saw bitcoin investment vehicle and tracker developer XBT Provider, go live on Nasdaq Nordic following its acquisition by a U.S.-based hedge fund.

XBT Provider’s ETCs (Exchange Traded Certificates) went offline in May following the bankruptcy of XBT’s former guarantor and majority owner, KnCMiner, a Swedish bitcoin mining firm.

A fully hedged bitcoin investment vehicle, XBT Provider is also the developer of bitcoin tracker COINXBT and Bitcoin Tracker EUR – COINXBE.

More recently, the Winklevoss twins were revealed to be shifting trading platforms from Nasdaq to BATS Global Markets, a popular destination for exchange-traded funds (ETFs). The brothers’ bitcoin exchange-traded fund, the Winklevoss Bitcoin Trust, will be offering a listing of 1 million shares at $65 each.

Featured image from Shutterstock.

Last modified: March 4, 2021 4:49 PM

Samburaj Das

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