The global Swiss banking and financial institution, Vontobel (SIX : VONN) has introduced a new product for their esteemed customers which enables them to trade bitcoin indirectly. The new product is a financial instrument similar to share certificates linked to the bitcoin value and it is available for regular investors in the stock market.
Bitcoin has been a popular alternative tradable financial asset for more than 5 years now. The digital currency is widely traded over various Bitcoin and Cryptocurrency exchanges across the world. Regular bitcoin traders usually trade bitcoin against cash or other digital currencies. Bitcoin trading activity usually runs in parallel to traditional trading with both rarely crossing paths until now.
The bitcoin-linked certificate will be issued, starting July 15. The first certificates issued by the Bank Vontobel will have an approval from the Swiss Exchange for a period of 2 years. The certificates will also become available for investors in the secondary markets at the prevailing buy and sell prices.
These certifications, better known as tracker certificates will have the same value as its underlying asset, which in this case is bitcoin. In the case of volatility in bitcoin prices, the certificate value will also fluctuate in accordance
Read more ... source: NewsBTC USA
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