ETP News: Vontobel debuts bitcoin open-end tracker on NGM Sweden

SRP News, 17 January 2018

Vontobel has listed its first open-end tracker certificate on bitcoin on the Swedish NGM Exchange, allowing investors to participate without buying and storing the coins digitally. The bank issued the first bitcoin tracker certificate in Switzerland and Germany as well as mini futures short, which enable investors to trade on a falling bitcoin price. The certificate has no end date and a yearly management fee of 1.5% pa. Starting on the launch day, January 16, investors will be able to trade the tracker on the secondary market. Vontobel was the first to launch an investment product on bitcoin in Switzerland, in July 2016,and in Germany, in November 2016. In 2017, both tracker certificates accounted for a total volume of more than CHF500m on the Swiss Exchange. Bitcoin was the second most traded instrument by turnover as well as by transactions in Germany.

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