Stuttgart, 25 February 2020 – A new exchange-traded product (ETPs) that tracks the inverse value of Bitcoin BTC is now available for trading on the Boerse Stuttgart in Euro. Boerse Stuttgart is Germany’s second-largest stock exchange, reporting trading volumes of EUR 68.5 billion in 2019.
Unprecedented in the crypto space as well as the ETP world, the tracker product’s value represents the inverse performance of the underlying asset Bitcoin BTC; when the price of Bitcoin goes down, the ETP goes up correspondingly, minus a daily management fee. The product is fully hedged with the corresponding underlying asset 1:1. The launch of the first inverse or 21Shares Short Bitcoin ETP is a natural extension to the existing unleveraged range of crypto ETPs and offers a greater choice to investors by which they may better manage the increased volatility and changing dynamics of the cryptocurrency markets.
The newly-listed product (WKN: A2781V), which is already listed and traded on the SIX Swiss Exchange in Zurich in USD, is part of the 21Shares’ product suite that has previously seen a basket of crypto assets (HODL), Bitcoin (ABTC), Ethereum (AETH), XRP (AXRP), Binance (ABNB) and Tezos (AXTZ) tracking products brought to market on the SIX Swiss Exchange in 2018 and 2019 respectively in USD. Also admitting to listing on BX Swiss for the ETP in CHF as well as Boerse Stuttgart in Euro.
“This is a first in the bitcoin industry to list a financial instrument wrapped as an ETP with an ISIN/WKN number and trading in EUR. Investors in Germany have demonstrated such strong support for prior crypto offerings. As an issuer of crypto products, it is important for us to listen, though with caution, to the requests of our investors and respond in kind by supporting the investor community who have a strong appetite in cryptocurrencies.” explains Hany Rashwan, CEO of 21Shares.
“Today’s announcement further stated that 21Shares’s PD3 Prospectus is approved by the Swedish Financial Supervisory Authority (SFSA) for the existing ETPs governed under Swiss law. This is an important milestone for traditional investors and the crypto community alike as SBTC is effectively available to both retail and institutional clients in Germany and the rest of Europe. This was not an easy feat and a lot of credit is due to the hard work of the team for their expertise in navigating the complexities of the traditional system and bringing these innovative digital assets to all European investors” says Laurent Kssis, Managing Director of 21Shares.
Fully collateralized by underlyings, custodied in segregated accounts with an independent custodian and listed on a regulated Swiss stock exchange, these institutional-grade trackers are ideal product structures for both retail and institutional investors to get exposure to these nascent digital asset classes. With the introduction of the SBTC tracker, investors can immediately and securely capitalize on falling adverse price movements of the largest and most liquid digital asset.
21Shares represent the new name of the family of Exchange Traded Products issued by 21Shares AG, formerly named Amun AG. The entire suite of existing ETPs will be migrated over the new 21Shares brand in the early part of the second quarter 2020.
21Shares makes investing in crypto assets as easy as buying shares using your conventional broker or bank. Investors can invest in cryptocurrencies using a conventional ETP structure (or tracker) easily, with total confidence and security, cost-effectively thanks to the 21Shares suite of ETPs launched by 21Shares and now composed of 11 Crypto ETPs: the Amun Crypto Basket Index ETP (HODL:SW), Amun Bitcoin (ABTC:SW), Amun Ethereum (AETH:SW), Amun XRP (AXRP:SW), AMUN Bitcoin Cash ETP (ABCH:SW), Amun Binance ETP (ABNB:SW), Amun Tezos ETP (AXTZ:SW), Amun Bitcoin Suisse ETP (ABBA:SW), Amun Bitwise 10 ETP (KEYS:SW), Amun Sygnum Platform Winners Index ETP (MOON:SW) and Amun Short Bitcoin ETP (SBTC:SW). The entire suite is listed on a regulated framework on the SIX Swiss Exchange, BX Swiss and some on Boerse Stuttgart in USD,CHF and EUR. Founded in 2018, 21Shares is led by a team of talented serial entrepreneurs and experienced banking professionals from the technology and financial world. Incorporated in Zug, with offices in Zurich, Berlin and New York, the company has launched several world firsts, including the first listed crypto index (HODL) in November 2018. 21Shares has 11 crypto ETPs listed today and has over $70 million in AuM in total listed.
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This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States. The securities of 21Shares AG to which these materials relate have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will not be a public offering of securities in the United States.
This document is only being distributed to and is only directed at: (i) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”); or (iv) persons who fall within Article 43(2) of the Order, including existing members and creditors of the Company or (v) any other persons to whom this document can be lawfully distributed in circumstances where section 21(1) of the FSMA does not apply. The Securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
In any EEA Member State (other than the Austria, Belgium, Denmark, Finland, France, Germany, Great Britain, Ireland, Italy, Luxembourg, Malta, the Netherlands, Norway, Spain and Sweden) that has implemented the Prospectus Regulation (EU) 2017/1129, together with any applicable implementing measures in any Member State, the “Prospectus Regulation”) this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Regulation. Exclusively for potential investors in Austria, Belgium, Denmark, Finland, France, Germany, Great Britain, Ireland, Italy, Luxembourg, Malta, the Netherlands, Norway, Spain and Sweden the 2019 Base Prospectus (EU) is made available on the Issuer’s website under www.21Shares.com. The approval of the 2019 Base Prospectus (EU) should not be understood as an endorsement by the SFSA of the securities offered or admitted to trading on a regulated market. Eligible potential investors should read the 2019 Base Prospectus (EU) and the relevant Final Terms before making an investment decision in order to understand the potential risks associated with the decision to invest in the securities. You are about to purchase a product that is not simple and may be difficult to understand.
This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities of 21Shares AG. Neither this document nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction.
This document constitutes advertisement within the meaning of the Swiss Financial Services Act (the “FinSA”) and not a prospectus. In accordance with article 109 of the Swiss Financial Services Ordinance, the Base Prospectus dated 13 November 2019, as supplemented from time to time (the “Base Prospectus”) and the final terms for SBTC dated 22 January 2020 (the “Final Terms”, and together with the Base Prospectus, the “Prospectus”) have been prepared in compliance with articles 652a and 1156 of the Swiss Code of Obligations, as such articles were in effect immediately prior to the entry into effect of the FinSA, and the Listing Rules of the SIX Swiss Exchange in their version in force as of January 1, 2020. Consequently, the Prospectus has not been and will not be reviewed or approved by a Swiss review body pursuant to article 51 of the FinSA, and does not comply with the disclosure requirements applicable to a prospectus approved by such a review body under the FinSA. Copies of the Prospectus are available free of charge from the website of the Issuer. Subject to applicable securities laws, the Base Prospectus and the final terms of any product mentioned herein can be obtained from 21Shares AG on the website.
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