A Bitcoin certificate is the most traded structured product on Switzerland’s main exchange SIX.
As local newspaper Neuer Zuercher Zeitung (NZZ) reports, the certificate, which Swiss bank Vontobel launched in July 2016, is the trader favorite on SIX “most days.”
“I’m already impressed by the technical possibilities which lie behind Bitcoin, but if I had to bet whether these will still be around in twenty years - we’ll just have to see,” Vontobel’s public operations manager for finance products Eric Blattmann told the publication.
The enthusiasm behind Bitcoin’s financial options are becoming ever more present in Switzerland, with the country’s Crypto Valley Association initiative leading the way in advocacy of both the virtual currency and Blockchain technology.
Even government organs have come on board, allowing payment of various services with Bitcoin for residents.
Not everyone has reacted well to the certificate’s performance, however, the news leading to community warnings on social media that such activity was in fact detrimental to Bitcoin as a whole.
“This is how Bitcoin dies. With paper Bitcoin and certificates,” the top Reddit response to the story reads.
“[...] Be wary of paper cryptos. It's how gold and silver are manipulated down.”