Bitcoin certificate allows its investors to participate in the cryptocurrency boom through a traditional financial vehicle traded on the SIX Swiss Exchange.
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.
Head of Market Strategy, Swissquote
Customers invest in Bitcoins against the Euro or the US Dollar through their accounts. Minimum investment is 1’000 US Dollars, which is also in the initial price of the certificate. Management fees are 1.5% per year plus transaction costs. There is no minimum holding period.
For this project, Swissquote partnered with Luxembourg-based Bitstamp, one of the biggest cryptocurrency exchanges.