Boerse Stuttgart, Germany’s second-largest stock exchange, has added a new inverse Bitcoin Exchange Traded Product (ETP). With that, the exchange becomes the lead to introduce the first short product available in the world.
The first crypto ETP is named 21Shares Short Bitcoin ETP and it allows traders to short Bitcoin, where it will be backed by the underlying asset at a ratio of 1:1. 21Shares Short Bitcoin ETP is also approved by the Swiss Financial Supervisory Authority (SFSA).
Apart from that, the 21Shares Short Bitcoin ETP is the first Bitcoin financial instrument wrapped as an ETP with an International Securities Identification Number (ISIN) and Wertpapierkennnummer (WKN).
This is surely a good news to investors in Germany and other European markets as they can now get short exposure on BTC when the prices start to dump.
What's Your Reaction?
Known as Loki (the good one though), is someone who loves the rain & coffee combo and reaches out for movie at her leisure. She is the one you heard on radio for one of her articles.