More great news for the crypto market. The ETP is listed in Switzerland, Germany, and Austria
The largest exchange in each of the three DACH (Germany, Austria and Switzerland) countries has now admitted a bitcoin ETP. This achievement further demonstrates institutional – and more importantly regulatory – acceptance of this emerging digital asset class.
A very interesting product being offered by 21shares is their short bitcoin ETP. How about that.
“The 21Shares Short Bitcoin ETP (Ticker: SBTC) seeks to provide a -1x return to the performance of bitcoin for a single day. This product obtains short exposure through borrowing bitcoin and simultaneously selling it on an execution platform,” the company explained on its website. “SBTC is an innovative financial instrument that allows investors to gain exposure to the negative price movement of bitcoin,” the announcement clarified.