Boerse Stuttgart, Germany’s second-largest stock exchange, has added a new inverse Bitcoin Exchange Traded Product (ETP). This will be the first crypto ETP, called 21Shares Short Bitcoin ETP, which allows traders to short Bitcoin.
World’s first Bitcoin short product, will the halving leave investors rekt?
Boerse Stuttgart has just introduced a brand new investment product for institutional and retail traders, which will allow them to short Bitcoin. This is a first for the Bitcoin investment industry and the first short product available in the world.
The 21Shares Short Bitcoin ETP will be backed by the underlying asset at 1:1. It is the first Bitcoin financial instrument wrapped as an ETP with an International Securities Identification Number (ISIN) and Wertpapierkennnummer (WKN).
The underlying BTC will be custodied by an independent custodian with segregated accounts. 21Shares is approved by the SFSA, the Swiss Financial Supervisory Authority.
This means investors in Germany and other European markets can now get short exposure on BTC when the prices start to dump.
21Shares was formerly known as Amun AG, and they offer a full suite of ETPs which will be migrating over to the 21Shares brand. This Bitcoin Short ETP will be fully regulated under Swiss law.
As the world’s first Bitcoin Short ETP, with the current bullish hype surrounding the halving, it will be interesting to see what the response towards this product will be from investors.
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