Swiss cryptocurrency financial firm Amun AG launched an Exchange Traded Production (ETP) giving investors changed exposure to Bitcoin (BTC), called 21Shares Short Bitcoin (SBTC).

As Cointelegraph Japan reported earlier today, Amun launched the derivative in question on Jan. 22 on Switzerland's leading stock substitution, Half dozen Swiss Commutation. The description of the product on the firm's official website is as follows:

"The 21Shares Brusque Bitcoin ETP (Ticker: SBTC) seeks to provide a -1x return to the functioning of Bitcoin for a single twenty-four hours. This production obtains short exposure through borrowing Bitcoin and simultaneously selling it on an execution platform."

According to its official website, the Six Swiss Commutation has seen ane.94 billion Swiss francs ($two billion) in operating income in 2022, 2.88 billion Swiss francs ($two.97 billion) of net profits in 2022 and has 2,594 employees. The substitution likewise claims to have a 70.8% marketplace share of trading in the Swiss Leader Index. Vi exchange likewise has 32.iv million fiscal instruments in its database.

First regulated inverse Bitcoin ETP in Switzerland

In a printing release announcing the new production published earlier today, Amun's CEO Hany Rashwan explained that the launch of this ETP is an of import add-on to its derivatives. He claimed:

"We have worked hard to be in a position to launch the showtime inverse Bitcoin ETP on a regulated trading venue here in Switzerland. Amun offers an existing suite of long investment products for a variety of crypto assets, however, the 1 missing puzzle was to evangelize a product to capitalize on negative price movements."

The last product in a long serial

This ETP is one in a long series of fully collateralized and custodied crypto-based financial derivatives launched by Amun. Earlier, the visitor also launched the Amun Crypto Basket Alphabetize ETP, Amun Bitcoin, Amun Ethereum, Amun XRP, AMUN Bitcoin Cash ETP, Amun Binance ETP, Amun Tezos ETP, Amun Bitcoin Suisse ETP, Amun Bitwise 10 ETP and Amun Sygnum Platform Winners Index ETP.

An Amun spokesperson told Cointelegraph that — depending on SBTC'south success — the house may launch more crypto shorting ETPs besides as other products such as leveraged derivatives. The firm'south CEO Hany Rashwan told Cointelegraph that Amun's products are regulated and claimed that they are like shooting fish in a barrel to use. Then, he also shared his perspective on current products lacking in the crypto derivative landscape:

"Crypto is transforming into an nugget class and the need for derivatives like leverage and inverses is both massive and growing rapidly. Yet, the products that be today in the class of options/futures are built mostly out of unregulated geographies which dispels institutional investors or are too complicated and require a lot of management which is besides complicated for retail investors."

In December 2022, Amin as well got approval to offer its products to retail clients in the European Union, effectively opening access to crypto exposure to a broader demographic.

Many companies launch cryptocurrency derivatives as the investors bear witness an increasing demand for such products.

In early Dec, Bitcoin futures open involvement on digital asset platform Bakkt hit a new all-time high. Earlier this month, cryptocurrency derivatives exchange FTX launched Bitcoin and reportedly hit $ane meg two hours after launch.