Ophelia Snyder and Hany Rashwan, founders of "21Shares", challenged everyone by listing on the Zurich Stock Exchange one of the first ETPs with underlying a basket of cryptocurrencies, including Bitcoin.
21Shares has broadened horizons by landing on the German Xetra last June and expanding its catalog on virtual currencies by quoting, in recent days, a short ETP on Bitcoin (it earns if the cryptocurrency prices go down): 21Shares Short Bitcoin (Sbtc).
The tool for betting on Bitcoin
This is the first centrally cleared short Bitcoin product (typical of trades on a regulated market), a feature that reduces counterparty risk for retail and institutional investors trading through their brokers.
Direct access to investing in cryptocurrencies without an intermediary has led, and can still lead, to unregulated trading platforms, often in the spotlight due to a lack of internal controls and a controversial financial structure, which leads to spreads. higher, higher counterparty risks and a significant price increase.
Being listed on a regulated market, the short ETP on Bitcoin can be bought and sold within the day (through any broker or bank that has access to the Frankfurt Stock Exchange) exactly as it happens with shares and with the same regulatory protection.
Course on other stocks
21Shares expansion plans do not end with access to the German stock exchange: the Swiss issuer's goal is to reach other parterres as well, in addition to further increasing the ETP offer on virutal currencies.
Hany Rashwan, 21Shares chief executive said:
We aim to introduce innovative products that offer exposure to cryptocurrencies through traditional ETPs. Investors will thus be able to implement any strategy towards Bitcoin in a safe, regulated and conventional way, through a tool that allows them to also benefit from the downward movements of the cryptocurrency.
And what do you think of this Etp Short on Bitcoin? Let me know yours in the comments.
As always, thank you if you made it this far and the next one!
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