Topic: [2017-11-17] Swiss Firms to Let Traders Short Bitcoin With New Futures Products (Read 1061 times)
November 17, 2017, 03:58:09 AM
Following the much-published announcement of CME to have its futures platform within this year, we are seeing a great interest of many to also introduce their own version of it. And am sure futures will have the 'future' here as more and more people are getting into Bitcoin and looking for ways on how to make profits out of it. Now, I understand that futures can be a form of legal gambling and is one of the highest form of speculating without necessarily owning thew thing being speculated upon. This can be the real start for the legitimacy journey of Bitcoin.
November 17, 2017, 03:10:36 AM
Swiss asset management firm Vontobel will launch a new futures product designed to let customers bet against the price of bitcoin.
To be launched on SIX Exchange this Friday, the offering will enable investors to reap gains even if the bitcoin price plunges. According to Reuters, the company will release two mini futures, a type of derivatives instrument that represents a fraction of the value of standard futures.
According to Eric Blattmann, head of public distribution of financial products at Vontobel, the news comes at a time when traditional traders are simply looking for more options when it comes to trading cryptocurrencies.
He said in statements:
"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."
Along with Vontobel, Swiss investment solutions provider Leonteq Securities AG also announced the launch of a separate product that has a two-month maturity, Bloomberg reported today.
Likewise, in his statements, Manuel Durr, head of public solutions at Leonteq noted that clients "appreciate" the choice between a long or a short investment in bitcoin.
Indeed, the move comes amid an uptick in interest in cryptocurrency products among institutional investors. U.S. derivatives marketplace operator CME Group, for example, announced recently it would launch a bitcoin futures product, setting off speculation other firms may follow suit.
Already, New York-based startup LedgerX is offering live cryptocurrency futures trading, with $1 million traded in its first week.
https://www.coindesk.com/swiss-firms-let-traders-short-bitcoin-new-futures-products/
To be launched on SIX Exchange this Friday, the offering will enable investors to reap gains even if the bitcoin price plunges. According to Reuters, the company will release two mini futures, a type of derivatives instrument that represents a fraction of the value of standard futures.
According to Eric Blattmann, head of public distribution of financial products at Vontobel, the news comes at a time when traditional traders are simply looking for more options when it comes to trading cryptocurrencies.
He said in statements:
"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."
Along with Vontobel, Swiss investment solutions provider Leonteq Securities AG also announced the launch of a separate product that has a two-month maturity, Bloomberg reported today.
Likewise, in his statements, Manuel Durr, head of public solutions at Leonteq noted that clients "appreciate" the choice between a long or a short investment in bitcoin.
Indeed, the move comes amid an uptick in interest in cryptocurrency products among institutional investors. U.S. derivatives marketplace operator CME Group, for example, announced recently it would launch a bitcoin futures product, setting off speculation other firms may follow suit.
Already, New York-based startup LedgerX is offering live cryptocurrency futures trading, with $1 million traded in its first week.
https://www.coindesk.com/swiss-firms-let-traders-short-bitcoin-new-futures-products/
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