Online Bank Swissquote Launches Bitcoin Exchange-Traded Product

Online Bank Swissquote Launches Bitcoin Exchange-Traded Product

Swissquote Bank, an online banking service, has launched a bitcoin exchange-traded product (ETP) that it claims will curb the cryptocurrency’s volatility. The Bitcoin Active Certificate works by moving investor’s holdings between bitcoin and U.S. dollars with the help of a machine learning algorithm that forecasts short-term market movements using technical indicators, buy/sell pressure and analysis of social media sentiment. Swissquote said in a statement : "Our strategy is focused on reducing volatility by increasing the amount of cash held during periods of uncertainty and downturns. This lower-volatility strategy is intended to decrease volatility to help create more consistent potential […]