Swiss Stock Exchange Issues Bitcoin Tracking License

Zurich-based global private and investment banking firm Vontobel has become the first company in Switzerland to be issued a bitcoin tracking license.

The latest license is based on the classic tracking license (SSPA: 1300) and will allow investors to invest in Bitcoin in a more streamlined and efficient way. As a result, Swiss investors will be able to participate in the price development of Bitcoin against US dollars for the first time.

Vontobel revealed that the application for the license, which considers Bitcoin as an underlying asset, was submitted to the SIX Swiss Exchange and approved with a two-year deadline.

July 15, 2016 is the first day of trading and the end date is July 16, 2018. Investors will be able to trade on the secondary market and then buy and sell Bitcoin at the general price or the bid price.

Roger Studer, head of Vontobel investment bank, said in a statement:

The new Bitcoin license allows investors to invest in Bitcoin in a simple and transparent way on the Swiss National Stock Exchange.