New Exchange-Traded Products (ETP) Available On Boerse Stuttgart
As per the announcement, a new exchange-traded product (ETP), is available on the second-largest stock exchange of Germany, Boerse Stuttgart, for trading in Euro. In the year 2019, it was reported that the trading volume of the stock exchange was $74.32 billion.
New ETP Represents Inverse Performance Of BTCAccording to the report, the product value of the tracker represents the opposite performance of BTC, which was different in the crypto space and the ETP world. The first inverse or 21Share Short Bitcoin ETP has been launched to help investors so that they could manage the changing dynamics of the crypto markets. The 21Share of Short Bitcoin ETP would also enhance the features of an existing unleveraged range of crypto ETPs.
Recently, the CEO of 21Shares, Hany Rashwan, said,
“This is a first in the bitcoin industry to list a financial instrument wrapped as an ETP with an ISIN/WKN number and trading in EUR. Investors in Germany have demonstrated such strong support for prior crypto offerings.”He mentioned that as an issuer of crypto products it was their responsibility to look after the needs of the investors and help them.
SFSA Approves PD3 ProspectusThe Managing Director of 21Shares, Laurent Kssis, has stated that after the Swedish Financial Supervisory Authority (SFSA) approval the 21Shares released its PD3 Prospectus. SFSA has been an important milestone for investors. Kssis also appreciated the work of its team and stated that because of their hard work the firm was able to introduce the new digital assets to all its European investors.
The reports mentioned that the newly listed trackers would be ideal product structures for both retail and institutional investors. With the help of SBTC trackers, the investors could immediately capitalize on the adverse price movements of unleveraged assets.
The report added that the ETPs which earlier was popular as Amun AG has now been represented as 21Shares.
About The Author
Jyoti SinghGraduated from GGSIPU and did PG Diploma in English Journalism from IIMC. Last worked at Business News and Information Services Ltd. for more than one and a half years as a sub-editor.
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