21Shares Short Bitcoin ETP available on Boerse Stuttgart

Credit: Börse Stuttgart

The 21Shares Short Bitcoin, an “inverted” FTE on Bitcoin (BTC), is now tradable on the second largest stock exchange in Germany, Boerse Stuttgart.

Launched last month by the Swiss 21Shares (formerly Amun AG), the 21Shares Short Bitcoin ETP (SBTC) allows traders to bet lower on the Bitcoin (BTC) price.

Initially listed on the Swiss Stock Exchange (SIX), the financial product is now entering Börse Stuttgart, thus making it accessible to a greater number of investors (institutional and retail) in theEuropean Union, reports Coindesk.

According to the CEO of 21Shares, Laurent Kssis, it’s the first reverse bitcoin tracker negotiable in euros. Most products of this type are traded in US dollars and logically entail more costs for European traders.

The new listing on Boerse Stuttgart means that retail investors are no longer overcharged by very large brokerage fees and exchange rates, ”he said, adding that thehe German market had been very explicit about the possibility of buying cryptocurrencies as well as selling short.

Kssis added that 21Shares had now filed a prospectus with Swedish authorities to also list products there.

Last year, 21Shares launched a dozen crypto-ETPs on the Swiss national stock exchange, in particular on Bitcoin, Ethereum, XRP, Binance Coin and Tezos.