Want to own bitcoin, but too embarrassed to tell your friends you’ve eschewed traditional assets for a currency with a checkered past as an illicit means of exchange?
Commerzbank AG may have a solution for you — though it doesn’t appear to be a very efficacious one.
The firm is marketing a structured note that allows investors “to get exposure to bitcoin without actually investing in it directly.” The underlying basket consists of an equal-weighted shares of Shopify Inc., DISH Network Corp. and Microsoft Corp.
These companies are “all active in blockchain technology” — according to the product summary for non-U.S. customers. The common thread tying these firms to bitcoin: They facilitate transactions in the digital currency.
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