A bitcoin exchange-traded product by 21Shares is now listed on leading stock exchanges in three countries: Switzerland, Germany, and Austria. The company offers 11 cryptocurrency exchange-traded investment products in total.
Zug-based 21Shares announced Tuesday that its bitcoin exchange-traded product (ETP) has been admitted to Wiener Börse, the Vienna Stock Exchange. With this latest listing, the company wrote:
The largest exchange in each of the three DACH (Germany, Austria and Switzerland) countries has now admitted a bitcoin ETP. This achievement further demonstrates institutional – and more importantly regulatory – acceptance of this emerging digital asset class.
The 21Shares bitcoin exchange-traded product (ABTC) “are passported into Austria and authorized for distribution for both retail and institutional investors using a familiar and widely accepted financial structure,” the company clarified.
ABTC is trading on the Six Swiss Exchange in USD, EUR, CHF, and GBP. It was admitted to Frankfurt-based Deutsche Boerse Xetra for trading in EUR in July. According to the 21Shares website, the product can also be found on Boerse Stuttgart and BX Swiss.
In addition, the company announced Monday that its short bitcoin ETP had been admitted to the Deutsche Boerse Xetra for EUR listing. This investment product is also listed on the Switzerland-based Six Swiss Exchange in USD and Boerse Stuttgart in EUR.
Laurent Kssis, Managing Director at 21Shares in charge of the application with Deutsche Boerse, commented: “We have lobbied carefully but vigorously with the exchange to be in a position to launch the world’s first centrally cleared short bitcoin ETP on a regulated trading venue,” adding that “The one missing trading product was to deliver a fully transparent financial instrument to capitalize on negative price movements within a complete regulated framework.”
“The 21Shares Short Bitcoin ETP (Ticker: SBTC) 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,” the company explained on its website. “SBTC is an innovative financial instrument that allows investors to gain exposure to the negative price movement of bitcoin,” the announcement clarified.
With over $100 million in total listed assets under management, the company offers 11 varied crypto exchange-traded products. Six of them are single asset products tracking the price of bitcoin (BTC), ethereum (ETH), bitcoin cash (BCH), ripple (XRP), binance (BNB), and tezos (XTZ). Only one product, SBTC, is an inverse ETP. The company also offers four index-ETPs: Crypto Basket Index, Bitcoin Suisse Index, Sygnum Platform Winners Index, and Bitwise Select 10.
21Shares AG is a Swiss company registered in Switzerland’s canton of Zug, with offices in Zurich, New York City, and Berlin. Its ETPs were previously called Amun ETPs but their names were changed in March. “The entire suite [of 11 crypto ETPs] is listed on a regulated framework on the official market of Deutsche Boerse, Six Swiss Exchange, BX Swiss and some on Boerse Stuttgart in CHF, USD, GBP and EUR respectively,” the company noted. All of the 21Shares crypto ETPs can be purchased via any broker or bank with access to the exchanges the products trade on.
Should all stock exchanges worldwide list bitcoin ETPs? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, 21Shares
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Published at Tue, 01 Sep 2020 16:35:05 +0000