Sales of Bitcoin Code on the SIX are rising.

  • The turnover of the Swiss stock exchange operator Six Swiss Exchange with bitcoin products is rising rapidly.
    22.12.2017 16:23
    Sales of Bitcoin on the SIX are rising.
    Sales of Bitcoin on the SIX are rising.
    Picture: cash
    In the past two weeks, it has risen to 184 million francs. That’s 18 percent of the total turnover that the stock market makes Bitcoin Code with structured products. Earlier this year, when only a single derivative was traded on the Six, it was close to zero, according to data from the stock exchange operator, which were viewed by Bloomberg.Switzerland is establishing itself as a hub for digital currencies as interest in crypto currencies is increasing among very wealthy clients and institutional investors. The Ethereum Foundation, which is the second largest crypto currency, is based in the country. Crypto Finance, led by former UBS banker Jan Brzezek, is also seeking a banking license and a license to sell a crypto fund to institutional investors.

    Cboe Global Markets and CME futures, which have been available since December, are helping to bring “digital money” into Bitcoin Code the mainstream, as many professional investors were unwilling to do business on the unregulated platforms where Bitcoin is currently traded. Cboe and CME are regulated, which may ease some investors’ concerns.

    Rising demand
    “Structured products with Bitcoin as an underlying have seen an increasing demand in recent weeks and are among the strongest contributors in this product category,” said Six in an email.

    With Bitcoin’s 30-day volatility rising Bitcoin Code to its highest level since January 2015, traders have plenty of opportunity to bet on derivatives.

    Vontobel and Leonteq are among the providers of structured products traded on the Six. The Swiss private bank Vontobel offers participation certificates with which to bet on or against the digital currency.

Posted in currencies | Comments Off on Sales of Bitcoin Code on the SIX are rising.