Now You Can Invest in Bitcoin Without the Volatility, Apparently
- Swissquote launches ETP that switches between bitcoin, dollars
- Product will use algorithm to forecast market direction
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Swissquote Bank SA upped its cryptocurrency game with the release of an exchange-traded product that will attempt to curb volatility by switching holdings between bitcoin and dollars.
The Switzerland-based online trader called its offering the first actively managed bitcoin certificate. Funds will be shifted between the digital currency and cash based on an algorithm that will use “technical signals” and sentiment expressed on social media to try to forecast the market. Trading will take place on the SIX Swiss Exchange.