Swiss bank Vontobel, has just launched an investment product based on bitcoin. The certificate, which will be issued in USD via the SIX Swiss Exchange, is the first one of its class, bringing more mainstream attention to the digital asset. Many purists would object to this move because it is a derivative, sold and handled by middlemen, which goes against the essence of Satoshi Nakamoto’s white paper. However, it may help bitcoin become more of a mainstream option, and it could buoy its long term growth. For the bank, this move might be beneficial as well.

Bitcoin Derivatives More Accessible?

It is clear that being the first bank to issue a bitcoin tracking certificate, in a country famous for its banking products, will be great for Vontobel’s prestige. However, the bank’s claim of offering “investors a simple means of investing in bitcoin”, might misconstrue the principles underpinning bitcoin trade. Cryptocurrency exchanges, such as Gemini, Coin Base and others, are pretty…



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