Wuala founder plans Bitcoin ETF at 26 million USD market cap at SIX Zurich

[dego]

Swiss co-founder of the cloud storage provider Wuala (bought by Lacie in 2009), Luzius Meisser, also plans to open up a Exchange Traded Fund (ETF) allowing investors to trade Bitcoins at a stock exchange. According to the preliminary plan he published on http://www.bitcoinfund.ch, the fund should be listed at the SIX Swiss Exchange in Zurich around July 2014 with a market cap of 25 Million Swiss Francs (~26 Mio USD).

At the moment it doesn't seem clear if that project will be successful, but Meisser surely has some skills and credibility of his Wuala experience that might help to achieve these goals.

Interestingly, Meissers announcement did not make any buzz until now, even if his planned fund will be at the same market cap as the one of the winklevii's. Maybe nobody knew about these plans or he's just not so well known to the Bitcoin community as the Wwiis...

 

[btceic]

Will there be adr's?

[dego]

I have no idea if there will be adr or if you can trade these from the US, but I guess you can, as it is listed at the SIX..

[Stephen Gornick]

According to the preliminary plan he published on http://www.bitcoinfund.ch,

So this is different from BitcoinFund.eu?

[dego]

Of course it is different. The swiss bitcoinfund.ch will be tradeable at the Swiss Stock Exchange SIX in Zurich, while bitcoinfund.eu seems to be a private fund with a minimum suscription of 100k.

bitcoinfund.eu seems to be more or less an anonymous or at least a little dubious thing if you look at their website. The swiss fund will be open for all investors trading anything at the SIX, like private but also institutional investors. An ETF that is listed at a stock exchange will have to follow certain transparency rules, means it should be a lot safer to deal with, than with funds like bitcoinfund.eu.