Cryptocurrency
Crypto Asset Firm Amun Launches Inverse Bitcoin ETP
As reported by CoinDesk, “Digital asset issuer Amun is launching a financial product for traders who predict bitcoin’s price will drop. “Announced Thursday, Switzerland-based Amun has launched the 21Shares Short Bitcoin ETP (SBTC) on the Swiss Stock Exchange (SIX), an exchange-traded product tracking bitcoin’s price movements inversely. “If bitcoin’s price climbs, traders lose. If it […]
As reported by CoinDesk, “Digital asset issuer Amun is launching a financial product for traders who predict bitcoin’s price will drop.
“Announced Thursday, Switzerland-based Amun has launched the 21Shares Short Bitcoin ETP (SBTC) on the Swiss Stock Exchange (SIX), an exchange-traded product tracking bitcoin’s price movements inversely.
“If bitcoin’s price climbs, traders lose. If it falls, they win.
“’If you’ve ever tried trading options or futures, you’ll see that it’s pretty difficult,’ Amun CEO Hany Rashwan said in a phone interview. ‘It’s not the easiest thing which is why it’s just easier to say ‘I think bitcoin price will go down, I’m going to buy this stock.’’
“Compared to entering short trade positions on bitcoin – wherein an investor expects the price to fall and bets against an asset’s value rising by buying and selling a position on loaned funds – Amun’s Short Bitcoin ETP does not require loaned capital…”