Two new Bitcoin futures projects are set to launch soon. Vontobel and Leonteq Securities AG, Swiss asset management firms, will not allow their customers to bet against the price of Bitcoin.
According to Reuters, Vontobel is launching these futures on the SIX Exchange today. This includes two mini-futures products, that only represent a fraction of the value of standard futures.
Eric Blattman, Head of Public Distribution of Financial Products, states their products have a goal to satisfy the urge of investors for more options, specifically cryptocurrency trading.
Blattman said, “We have seen big demand for our long tracker certificate from investors interested in playing the upside potential of Bitcoin and now they have also the possibility to hedge their position or go short.”
As reported by Bloomberg yesterday, Leonteq Securities AG is working on a separate project that only has a two-month maturity. Manuel Durr, head of public solutions at Leonteq, stated: “the initial feedback has been extremely positive, clients do very much appreciate the possibility of choosing between a long or a short investment in bitcoin.”
Growing In Popularity
This big move in Switzerland is in the middle of growing interest in cryptocurrency among typical institutional investors.
In about a month, The U.S’s major CME Group is set to launch their new bitcoin futures. Also, a New York-based startup, LedgerX, has already begun offering cryptocurrency future trades and in their first week, $1 million was already traded.
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