Swiss Bank Vontobel offers bitcoin trading

The private Bank Vontobel AG has introduced a new financial instrument to enable trading in the cryptocurrency bitcoin on the Swiss stock market.

The bitcoin-linked tracker certificates from the Zurich-based bank will be available for regular investors starting on July 15. They allow for trading in the digital currency in traditional markets, but the process is a bit more complicated than trading in bitcoin directly over a cryptocurrency exchange.



Vontobel is the first Swiss issuer to offer a tracker certificate on bitcoins for subscription. The Vontobel certificate, in US dollars, is meant to simplify investing in bitcoin, the bank said in a statement posted online.

"The new bitcoin certificate will for the first time give investors a simple and transparent means of investing in bitcoins on the SIX Swiss Exchange,” said Roger Studer, head of Vontobel investment banking, adding that the certificates show the bank is “one of the leading providers of structured products.”

Earlier this month, the Swiss town of Zug in central Switzerland became the first in the world to begin accepting Bitcoin as payment for government services, an arrangement offered on a trial basis until the end of this year.

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