Swiss crypto asset firm launches bearish Bitcoin ETP

posted 6 months ago
Digital asset issuer Amun is launching a financial product for traders who predict bitcoin's price will drop. Switzerland-based Amun launched the 21Shares Short Bitcoin ETP (SBTC) on the Swiss Stock Exchange (SIX), an ETP 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.’
Tags: bitcoin, news