New Fund Gives Traders Blue-Chip Stock Exposure for Bitcoin

Suppose you could trade your bitcoin for shares in, say, Apple Inc, just as the company is on the cusp of rolling out its biggest product release in years. Or perhaps use that bitcoin stash to buy stock in London-listed Vodafone to enjoy its 5.4% dividend yield.
That’s what First Global Credit wants to do with a new derivatives product for bitcoin holders that will allow them to participate in global equities markets, without cashing their bitcoin in for fiat. The fund allows investors to keep their funds in bitcoin, while seeking returns with those holdings.
Gavin Smith, First Global’s chief executive, said:
‘If you believe bitcoin is going to increase in value, you don’t want to lose that potential. [Our product] will retain the value of your bitcoins, and you will also hopefully make money on your investment.’
First Global formally launched yesterday at Inside Bitcoins Las Vegas, a three-day digital currency conference running through 7th October at the Flamingo Hotel and Casino.

This post was published at Coin Desk on October 7, 2014.