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- 21 Shares Short Bitcoin ETP is now enlisted in Germany’s second-largest stock exchange Boerse Stuttgart.
- The CEO of 21 Shares addressed that this is the first time in the Bitcoin industry to list a financial tool in the form of ETP.
- 21Shares create investment in digital assets for buying shares and securities. The ETP is the first product launched by 21shares.
A newly listed exchange-traded product (ETP), 21 Shares Short Bitcoin ETP, is now enlisted in Germany’s second-largest stock exchange Boerse Stuttgart. This ETP represents the inverse effect of Bitcoin BTC as when the price of the ETP goes up, the price of the Bitcoin apparently goes down.
An ETP is the first global product to issue an inverse experience of the price movements of Bitcoin. It’s an expansion to the existing holders of the crypto ETPs. The CEO of 21 Shares addressed that this is the first time in the Bitcoin industry to list a financial tool in the form of ETP.
For previous crypto offerings, the investors of Germany have set out their strong support. Thus, it becomes a priority for the issuer to cop up with the request of the investors.
Additionally, this announcement stated 21Shares’ PD3 Prospectus is approved by the Swedish Financial Supervisory Authority (SFSA) for the existing ETPs governed under Swiss law.
About 21Shares
21Shares constitute the new name of 21Shares AG, which was previously named Amun AG. In the late second quarter of 2020, the complete group of existing ETPs will be shifted to the new 21Shares brand.
21Shares create investment in digital assets for buying shares and securities. The ETP is the first product launched by 21shares. This ETP comes up with a husky price with management fees of 2.5%, which excludes the cost of borrowing Bitcoin.
Benefits
Hence, it can be assumed that the introduction of the first 21Shares Short Bitcoin ETP proves a great addendum to the existing trade range of crypto ETPs and offers the best option for the investors through which they can manage the instability and varying environment of the cryptocurrency markets.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
