Zug April 9th 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 diversify their portfolios in a simple manner with cryptocurrencies.
Balzers (LI) – As of today, Bank Frick is providing qualified and institutional investors access to an active BTC-ETH tracker, which has been developed with the help of the technical expertise of Bitcoin Suisse. What sets this product apart is its future-oriented design – 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 ISIN and ERC20 token.
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. Upon 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 the issuing of the crypto certificate, which is aimed exclusively at qualified investors. Bitcoin Suisse acts as crypto broker and is responsible for the 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: “With the active BTC-ETH tracker, we demonstrate our joint expertise and provide 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 is pioneering. The two European first movers in the field of crypto financial services, Bank Frick and Bitcoin Suisse, are thus underlining their claim of developing innovative products in order to anchor blockchain banking on the market. “The product’s design demonstrates the innovative capacity that links Bank Frick and Bitcoin Suisse”, emphasises Raphael Haldner, Head of Funds and Capital Markets at Bank Frick. “With our certificate, intermediaries such as professional market participants benefit from a future-oriented capital market solution.”