World’s First Centrally Cleared Short Bitcoin ETP Admitted To The Regulated Market of Deutsche Boerse XETRA
21Shares granted CCP clearance with additional listing of Short Bitcoin ETP (SBTC)
31 August 2020 - Frankfurt / Zurich - Swiss Fintech firm 21Shares, the world’s leading issuer of crypto Exchange Traded Products (ETPs), is admitting to the regulated market of Deutsche Boerse Xetra venue the first centrally cleared Short Bitcoin ETP (SBTC - WKN A2781V - Ticker 21XS) on September 1st. This follows the success of its eleven other institutional grade crypto exchange-traded products and further cements its status as the specialist firm having the most expansive regulated product suite of crypto assets in the financial industry.
SBTC is an innovative financial instrument that allows investors to gain exposure to the negative price movement of Bitcoin. SBTC is the world’s first centrally cleared short Bitcoin product, further reducing counterparty risk for institutional and retail investors when trading with their conventional brokers. Two months ago, 21Shares dual listed the world’s first Bitcoin ETP (ABTC) on Deutsche Boerse Xetra allowing further international investors to gain exposure to this nascent but novel asset class via a familiar ETP structure.
This structure gives investors several benefits when it comes to inverse exposure. Traded on regulated markets, investors can buy and sell the ETP intraday, in the same way they would when trading conventional shares with the identical regulatory protections in place. CCP clearing is a feature that investors expect when trading on a regulated exchange and 21Shares brings this standard which greatly reduces the counterparty risk when trading the short bitcoin ETP.
“We have lobbied carefully but vigorously with the exchange to be in a position to launch the world’s first centrally cleared short Bitcoin ETP on a regulated trading venue. The one missing trading product was to deliver a fully transparent financial instrument to capitalize on negative price movements within a complete regulated framework,†said Laurent Kssis, Managing Director at 21Shares in charge of the application with Deutsche Boerse.
All of the 21Shares crypto ETPs can easily be purchased via any broker or bank with access to Boerse Frankfurt. Historically speaking, direct access to investing in crypto assets was and can often still be exposed to unregulated crypto exchanges, which are frequently in the news due to various lack of internal controls and financial structures lacking integrity which resulted in higher spreads, increased counterparty risk and large price premiums. Thus, the listing of the first centrally cleared Short Bitcoin ETP is a significant step towards mainstream adoption of crypto assets in conventional financial portfolios when it comes to hedging or simply use as protection.
"As noted earlier this year, 21Shares remains committed to introducing innovative products that offer exposure to crypto currencies via conventional and traditional ETPs, while remaining a leading provider in the crypto asset issuance†said Hany Rashwan, CEO at 21Shares. “Investors are now in a position to implement any bitcoin strategy in a safe, regulated, and conventional manner using a product that allows them to participate in the downwards movement of Bitcoin.â€
About 21SharesÂ
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 21Shares Crypto Basket Index ETP (HODL), 21Shares Bitcoin (ABTC/21XB), 21Shares Ethereum (AETH), 21Shares XRP (AXRP), 21Shares Bitcoin Cash ETP (ABCH), 21Shares Binance ETP (ABNB), 21Shares Tezos ETP (AXTZ), 21shares Bitcoin Suisse ETP (ABBA), 21Shares Bitwise 10 ETP (KEYS), Sygnum Platform Winners Index ETP (MOON) and 21Shares Short Bitcoin ETP (SBTC/21XS). The entire suite is listed on a regulated framework on the official market of Deutsche Boerse, SIX Swiss Exchange, BX Swiss and some on Boerse Stuttgart in CHF, USD, GBP and EUR respectively. 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 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 $100 million in AuM in total listed.Â
Press Contact
Laurent Kssis +41 44 260 86 60
DisclaimerÂ
This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful. This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan.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 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. Copies of this document may not be sent to jurisdictions, or distributed in or sent from jurisdictions, in which this is barred or prohibited by law. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, in any jurisdiction in which such offer or solicitation would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction.
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