Online trading firms, hedge funds and foreign-exchange platforms are launching new bitcoin products to try to get on board a rally that has seen the biggest cryptocurrency surge eightfold this year. Photo: ReutersMadrid: 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. Online trading firms, hedge funds and foreign-exchange platforms are launching new bitcoin products to try to get on board a rally that has seen the biggest cryptocurrency surge eightfold this year. The exposure is limited to bitcoin and cash, minus a 1.5% management fee and trading costs, it said. Investor Mike Novogratz, who’s setting up a $500 million hedge fund to invest in digital currencies, said this week bitcoin will end the year at $10,000.

Source: Mint November 24, 2017 04:07 UTC