Zug, 9 April 2019
Bank Frick is issuing an active BTC-ETH tracker, with Bitcoin Suisse acting as the blockchain service provider and prime crypto broker. As of today, the certificate is available as both a classic security and a token, and is thus suitable for traditional and blockchain-savvy investors. Its underlying assets are Bitcoin (BTC) and Ether (ETH). Qualified investors can thus use cryptocurrencies to diversify their portfolios in a simple manner. Balzers (LI) – As of today, Bank Frick is giving qualified and institutional investors access to an active BTC-ETH tracker, which has been developed with the support of the technical expertise of Bitcoin Suisse. What sets this product apart is its future-oriented design, since the certificate is issued both as a classic security and as a token. Professional investors are provided with a simple opportunity to participate in cryptocurrencies – the certificate is accessible via both ISIN and ERC20 token. Active Management The active BTC-ETH tracker is also managed actively. Bank Frick and Bitcoin Suisse form an investment committee that decides on the weighting of the included underlying assets on a quarterly basis. Changing market conditions are taken into account as part of this process. At the start of trading today, the crypto certificate is equally weighted. The investment objective of the active BTC-ETH tracker is to participate in the performance of the underlying assets across its two-year term. Security and Expertise As issuer, Bank Frick is responsible for issuing the crypto certificate, which is aimed exclusively at qualified investors. Bitcoin Suisse acts as crypto broker and is responsible for execution of the BTC and ETH transactions via the global crypto exchanges. Stefan Lütolf, Head of Trading & Brokerage at Bitcoin Suisse, is convinced of the merits of the joint development: “The active BTC-ETH tracker is evidence of our joint expertise and our ongoing commitment to investors with a new form of capital market access.” The cryptocurrencies will be held in safe custody by Bitcoin Suisse using cold storage and multi-signature solutions. Future-oriented capital market solution The issuing of the active BTC-ETH tracker as both a classic security and a token breaks new ground. With the rollout, the two European first-movers in the field of crypto financial services, Bank Frick and Bitcoin Suisse, are underlining their mission to develop innovative products to anchor blockchain banking on the market. “The product’s design demonstrates the innovative capacity that links Bank Frick and Bitcoin Suisse,” emphasizes Raphael Haldner, Head of Funds and Capital Markets at Bank Frick. “Our certificate gives intermediaries such as professional market participants the future-oriented capital market solution they‘ve been asking for.”
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