https://www.coindesk.com/swiss-firms-let-traders-short-bitcoin-new-futures-products/Swiss asset management firm Vontobel will launch a new futures product designed to let customers bet against the price of bitcoin.
To be launched on SIX Exchange this Friday, the offering will enable investors to reap gains even if the bitcoin price plunges. According to Reuters, the company will release two mini futures, a type of derivatives instrument that represents a fraction of the value of standard futures.
According to Eric Blattmann, head of public distribution of financial products at Vontobel, the news comes at a time when traditional traders are simply looking for more options when it comes to trading cryptocurrencies.
He said in statements:
"We have seen big demand for our long tracker certificate from investors interested in playing the upside potential of bitcoin and now they have also the possibility to hedge their position or go short."
Along with Vontobel, Swiss investment solutions provider Leonteq Securities AG also announced the launch of a separate product that has a two-month maturity, Bloomberg reported today.
