Germany's second largest stock exchange, Börse Stuttgart, has added an inverse traded stock to its listing.blockchain-based product (ETP). Developed by 21Shares ETP, it is distinguished by the fact that it allows you to earn on falling prices of the underlying asset.
Börse Stuttgart became the second major venue inEurope, which opened the 21Shares Short Bitcoin ETP (SBTC) product. The first inverse Bitcoin ETP from a company formerly known as Amun AG was listed on Switzerland's largest stock exchange, SIX.
Unlike traditional exchange-traded products, SBTCallows traders to «short» during the trading day, profiting from the decline in the price of Bitcoin. The growth of ETP directly correlates with the fall in cryptocurrency quotes; players only pay a daily management fee. On Börse Stuttgart the product is traded against the euro.
Amun previously launched 10 cryptocurrency ETPs, all of which are listed on the SIX. Among them are products based on a basket of cryptocurrencies, Bitcoin, Ethereum, XRP, Tezos and other digital assets.
The entire package is planned to be transferred to the new 21Shares brand at the beginning of the second quarter of 2020.
Amun previously received permission from the Swedish financial supervisor to sell its cryptocurrency ETP to retail investors from the European Union.
Recall that Börse Stuttgart launched the spot trading of bitcoin in the fall.
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