RATE Group | Germany’s Second Largest Exchange Boerse Stuttgart Lists Short Bitcoin ETP
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Germany’s Second Largest Exchange Boerse Stuttgart Lists Short Bitcoin ETP

25 Feb Germany’s Second Largest Exchange Boerse Stuttgart Lists Short Bitcoin ETP

Posted at 10:47h in Bitcoin News by

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Investors looking to short Bitcoin (BTC) have a new option in Germany. On Feb. 25, Boerse Stuttgart — the country’s second-largest stock exchange — announced the listing of an exchange-traded product (ETP) that is inversely correlated to the cryptocurrency’s price swings.

Hedging against all scenarios

The inverse ETP is issued by crypto fund manager 21Shares, formerly known as Amun. The product offers investors a positive return whenever Bitcoin’s price falls — minus a daily management fee.

Already listed on Switzerland’s principal stock exchange SIX Swiss Exchange, the 21Shares Short Bitcoin ETP (SBTC) will reach an even wider investor base via Boerse Stuttgart, which last year reported trading volumes of 68.5 billion euro. 

Hany Rashwan, CEO of 21Shares, has claimed that “investors in Germany have demonstrated strong support for prior crypto offerings” and the firm is responding, though cautiously, to this strong demand.

SBTC, which trades in euro, is fully hedged…

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