Amun, a Swiss publisher of digital assets, has launched a new exchange product called 21Shares Short Bitcoin ETP (SBTC) on the Swiss Stock Exchange (SIX), which follows the movement of bitcoin prices downwards. That is, if the price of bitcoin rises, traders lose and if it falls, they win.
“If you have ever tried to trade options or futures, you know that it is quite difficult, – Amun CEO Hani Rashwan said. – It is easier to say: “I think the price of bitcoin will fall, and therefore I am going to buy this stock.”
21Shares Short Bitcoin ETP is easy to use and requires no borrowed capital. All positions are reset at the end of the trading day and indicators are not transferred to the next day. Rashwan said his company wants to meet the demands of starting traders and make products available with just a few clicks.
“We hope to simplify the user experience and the use of cryptocurrencies as much as possible. You do not have to learn how to open and close a contract. You do not have to handle perpetual swaps. Nothing like that. You just buy shares, “- rashwan added.