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Swissquote launches exchange-traded bitcoin certificate

Nov 23 2017
By
Jonathan Smith

 Swissquote Bank, a Swiss-regulated financial services provider, announced it has launched the first actively managed Bitcoin certificate that is traded on the SIX Swiss Exchange. It allows mainstream investors to participate on the cryptocurrency market, without the usual risks associated with it.


“Even though we believe that Bitcoin represents the future, the volatility can be very high and considered too much of a risk by the average investor. This is why our strategy focuses on reducing volatility by increasing the amount of cash in periods of uncertainties and downturns”, said Peter Rosenstreich, Head of Market Strategy at Swissquote.


“With the certificate, the average investor gets a regulated and transparent gateway to Bitcoin, without needing a special Bitcoin wallet, managing public and private keys or having to fear theft or hacks. We expect that investors will be willing to accept slightly lower returns in exchange for better protection against downside risks.”


The certificate’s volatility and the risks of loss are reduced by a machine learning algorithm developed by Swissquote’s Quantitative Asset Management team. It predicts the short-term price movements and returns by analyzing various factors and signals, including sentiment expressed on social media and manages the certificate automatically.


Depending on the predicted movement of the Bitcoin price, between 60 and 100% of the certificate’s portfolio is allocated to Bitcoin.


The Swissquote certificate on Bitcoin is denominated in USD, with minimum investment of $1000. this is also the initial price of the certificate. Management fees are 1.5% per year plus transaction costs. There is no minimum holding period.


This past summer the forex brokerage brand of Swissquote Bank became the first forex broker to offer to its clients trading in bitcoin against the EUR and USD, in partnership with Luxembourg-based licensed cryptocurrency exchange Bitstamp.


Swissquote was founded back in 1996 and today it ranks among the top 10 online forex brokers in the world. It is a brand of Swissquote Bank Ltd., a recognised public bank regulated by the Swiss Financial Market Supervisory Authority (FINMA) and part of the International Swissquote Group. Swissquote Group Holding Ltd (SQN) is listed on the SIX Swiss Exchange.

 

In addition, the Swissquote Group has set up an UK subsidiary, Swissquote Ltd., which holds a FCA license and provides online forex, commodities and stock indices trading services for traders based in the European Union.


TAGS: swissquote  bitcoin 
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