A developer of cryptocurrency-derivative products Amun has introduced a new tool for those who want to capitalize on the depreciation of bitcoin, iHodl Russia reports.
As it states, Switzerland's main stock exchange the SIX Swiss Exchange has already integrated the 21Shares Short Bitcoin Exchange Traded Product (ETP).
Unlike short positions on futures exchanges, Amun's product does not provide services for operations with borrowed capital. All positions close at the end of the day and do not move to the next.
It is assumed that the new tool will be convenient for traders who want to play on short-term changes in the cryptocurrency rate. The annual commission for tool management is fixed at the 2.5% rate.
Earlier iHodl reported that the Swiss largest stock exchange launched bitcoin and ethereum ETPs. The launch of that instrument had been possible thanks to an association between fintech startup Amun AG and crypto custody service Bitcoin Suisse AG.
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