Another tool for making money …

Another tool for making money on the fall of bitcoin appeared on the traditional market

Crypto derivatives developer Amun has introduced a new tool aimed at traders awaiting a decline in the price of bitcoin.

According to the announcement this Thursday, the 21Shares Short Bitcoin ETP (SBTC) exchange product was launched on the Swiss Stock Exchange (SIX), the price of which changes back to the bitcoin rate. If the rate rises, the trader will lose money, if the rate falls, he will earn.

“If you have ever tried to trade options or futures, you can see that it is quite difficult,” said Hani Rashwan, CEO of Amun. “It’s not so easy, so it’s much easier to buy a security that will rise when bitcoin falls.”.

Unlike short positions on the futures exchanges, ETP Amun does not provide for leveraged transactions. All positions are closed at the end of the day and do not move to the next. It is assumed that such a structure will be especially convenient for market participants who want to play on short-term changes in the cryptocurrency rate. The annual management fee for the instrument is 2.5%.

Another tool for making money ...

In total, Amun now manages 11 ETPs, 10 of which allow betting on the growth of Bitcoin, Ethereum, XRP and other cryptocurrencies. In the future, the company expects to expand the list of reverse ETPs.

By the end of 2020, Amun intends to bring its products to at least two more exchanges in Europe. In December, the Swedish Financial Conduct Authority granted the company permission..

Similar articles

  • AMD has released a driver package for…

    AMD has released a driver package for cryptocurrency mining GPU manufacturer AMD has released a driver package specially designed…

  • OKEx will open a platform for…

    OKEx exchange will open a platform for launching tokens OKEx cryptocurrency exchange intends to open its own platform, thanks to which third-party projects…

  • Bibox will host an IEO for four…

    Bibox exchange will hold IEO for four projects at the same time Bibox cryptocurrency exchange this Thursday presented four projects that will conduct…

  • Grayscale: Many investors fail to…

    Grayscale: Many investors are unaware of the approaching halvening of bitcoin Asset management company Grayscale presented another research…

  • Litecoin continued to update highs…

    Litecoin continued to renew highs and reached a capitalization of $ 20 billion The Litecoin rate continued to rise this Tuesday, which may indicate that,…