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Crypto Asset Firm Amun Launches Inverse Bitcoin ETP
Digital asset issuer Amun is launching a new financial product, this one for traders who predict bitcoin's price will drop. Announced Thursday, Switzerland-based Amun has launched the 21Shares Short Bitcoin ETP (SBTC) on the Swiss Stock Exchange (SIX), an exchange traded product 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 ... (full story)