The old saying, «a leopard can't change its spots», comes to mind with Monday's announcement from Equitron and Helveteg - especially for those who remember the twists and turns of Switzerland's financial markets over the past 25 years.

Behind Helveteq, a Schwyz-based issuer of exchange-traded products (ETPs), actively managed certificates (AMC) and structured products, which aims to transform traditional, digital, and alternative assets into bankable products via its innovatice securitization platform, is Roger Studer. He was a long-time top executive at Vontobel and, until 2020, head of investment banking, including the bank's core structured products business - a man with a keen sense of market fads and trends.

Bitgold as an Innovative Certificate

Equitron, a Zurich-based fintech asset manager specializing in AI-driven thematic investment strategies, was co-founded by Axel Schwarzer, the former head of asset management at Vontobel.

The two companies have announced the joint launch of an «innovative certificate» called Bitgold. The products combines Bitcoin and gold, positioning itself outside the traditional fiat currency system. The certificate is 120 percent invested (leveraged), with an initial allocation of 100 percent cryptocurrency and 20 percent gold. A third, currently fashionable component is also included.

AI Controls the Weighting

The weighting of the two base elements is variable over the term and is controlled by AI. If the mood in the gold market is bullish, for example, the proportion of crypto is reduced and that of the precious metal is increased. AI apparently serves to identify such changes in sentiment at an early stage.

The target audience is both investors who fear they have already missed the right entry point and those who have already invested in Bitcoin and are concerned about possible setbacks.

Only one Price per Week

The tracker certificate is structured as an open-end fund (without a fixed maturity) and is denominated in dollars. The subscription period for «Bitgold» runs until August 27. The product carries a 1 percent annual management fee, with an additional performance fee if it outperforms Bitcoin - the clear benchmark.

The certificates are not listed, the net asset value is calculated once a week, and redemptions are therefore only possible on a weekly basis. The products are 100 percent secured with collateral, which reduces the issuer risk.