Two New Bitcoin Futures Hit Switzerland As Finma Slams JPMorgan

Switzerland’s banking sector going bigtime Bitcoin as two banks are set to launch futures this week, while its JPMorgan arm launders money.

Vontobel, Leonteq Respond To Customer Demand

Vontobel, which has long signaled increased exposure to Bitcoin for customers, will join Leonteq Securities, which will offer a futures-like contract.

Vontobel senior executive Eric Blattmann told Bloomberg:

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.

Vontobel originally announced its securities contract back in July 2016, and a year later it became the most popular traded structured product on Switzerland’s principal exchange SIX.

“The initial feedback has been extremely positive,” Leonteq PR head Manuel Dürr continued. “Clients do very much appreciate the possibility of choosing between a long or a short investment in bitcoin.” […]

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