Vontobel which is a Swiss asset management firm is about to launch a new futures product which will allow customers bet against Bitcoin price. The product will be launched 11th November on the SIX Exchange. This offering will enable investors to get gains even if the Bitcoin prices change.
According to reports, the company will release two mini futures that will represent a fraction of the value of normal futures. According to the head of public distribution of financial products at Vontobel Eric Blattmann, the news has come at a good time when traders are searching for options to trade their cryptocurrencies.
In Blattmanns statement: “We are having a huge demand for our long tracker certificate from investors who are interested in laying with the potential of Bitcoin.”
Bloomberg has reported today that another company which is Leonteq Securities AG will also launch a separate product.The futures product will have a two month maturity period. The head of public solution in Leonteq Manuel Durr noted that clients appreciate the provision of a choice to choose between long or short investment in Bitcoin.
This move has come during a period when there is interest in cryptocurrency products among investors. Companies have also come up to take the task to offer futures. CME Group of US has said they will launch Bitcoin futures before the year ends. The announcement by CME set speculation that many firms would follow in futures offering.
Companies already trading in futures
As at now, a New York-based company LedgerX is already offering live digital currency futures trading. In the first week of the future offering, more than $1 million was traded. This shows that the futures offering will attract many people and more companies are expected to offer the same. Futures could act as the currency price controller to avoid the unpredictable changes in price.