Amun AG, a leading technology company, has rolled out the 21Shares Short Bitcoin ETP (SBTC) tracker on Swiss Stock Exchange (SIX), the company said in a release today.
The first-of-its-kind SBTC suite will help investors track the Bitcoin’s performance.
Amun’s CEO Hany Rashwan said:
“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, however, the one missing puzzle was to deliver a product to capitalize on negative price movements.”
The suite enables investors to make use of the decline in the Bitcoin price. “This marks an important step towards the introduction of derivative products in conventional ETP form.”
Rashwan also said:
“The platform is now near complete and marks an important step towards the introduction of derivative products in conventional ETP form for the still-nascent crypto market.”
Amun, which manages $50 million assets, offers 10 ETP products listed on Swiss Exchange and Boerse Stuttgart.
It was reported that the company got a nod from the Swedish regulator to boost its presence in the European Union.