Amun Launched Short Bitcoin ETP on Leading Swiss Exchange SIX
Adrian Zmudzinski's original article for cointelegraph.com reduced by 79%
Swiss cryptocurrency financial firm Amun AG launched an Exchange Traded Product giving investors inverse exposure to Bitcoin, called 21Shares Short Bitcoin. As Cointelegraph Japan reported earlier today, Amun launched the derivative in question on Jan. 22 on Switzerland's leading stock exchange, Six Swiss Exchange.
"The 21Shares Short Bitcoin ETP 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." First regulated inverse Bitcoin ETP in SwitzerlandIn a press release announcing the new product published earlier today, Amun's CEO Hany Rashwan explained that the launch of this ETP is an important addition to its derivatives. "We have worked hard to be in a position to launch the first inverse Bitcoin ETP on a regulated trading venue here in Switzerland.
Amun offers an existing suite of long investment products for a variety of crypto assets the one missing puzzle was to deliver a product to capitalize on negative price movements." The last product in a long seriesThis ETP is one in a long series of fully collateralized and custodied crypto-based financial derivatives launched by Amun. Earlier, the company also launched the Amun Crypto Basket Index ETP, Amun Bitcoin, Amun Ethereum, Amun XRP, AMUN Bitcoin Cash ETP, Amun Binance ETP, Amun Tezos ETP, Amun Bitcoin Suisse ETP, Amun Bitwise 10 ETP and Amun Sygnum Platform Winners Index ETP.An Amun spokesperson told Cointelegraph that - depending on SBTC's success - the firm may launch more crypto shorting ETPs as well as other products such as leveraged derivatives.
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