21Shares’ Short Bitcoin ETP (SBTC) Listed on German Stock Exchange, Boerse Stuttgart

On February 25, Boerse Stuttgart, the second-largest stock exchange in Germany, announced it had begun listing exchange-traded products (ETP) that are inversed with the Bitcoin’s (BTC) swings in price.

This Bitcoin ETP will be issued by 21Shares, the cryptocurrency fund manager previously known as Amun. It offers a positive return for investors whenever BTC prices fall, for a daily management fee.

Besides, it has already been listed on SIX Swiss Exchange, one of Switzerland’s most important stock markets. Through Boerse Stuttgart, which boasted €68.5 billion in trading volume in 2019, it’s expected to reach a wider base of investors.

German Investors Very Supportive of Crypto Offerings

According to The CEO, Hany Rashwan, 21Shares’ Short Bitcoin ETP (SBTC) has been developed thanks, in part, to the immense support of German investors towards crypto offerings previously.

Currently, SBTC trades in euro and is fully 1:1 hedged with the underlying asset that corresponds to it.

The ETP has also been provided with the WKN: A2781V German securities identification code. The 21Shares team has also announced its PD3 Prospectus Regulation approval by the Swedish Financial Supervisory Authority.

The company’s managing director made a statement in which he referred to this approval as a milestone for both the crypto and traditional investment communities; opening up crypto ETP products to institutional and retail clients not only from Germany but from all over Europe too.

Rashwan Aims at Offering a Regulated Asset in a Market Dominated by Unregulated Ones

Rashwan has said that while the demand for crypto derivatives growing, many of the options and futures products nowadays are built mostly in unregulated regions, causing both retail and institutional investors to be put off.

Back in 2019, when 21Shares was called Amun, it closed a partnership with Bitwise, the crypto asset manager, on a multi-crypto ETP that tracks the performance of up to 10 cryptos and their SIX Swiss Exchange listings.

In the past, Boerse Stuttgart closed a partnership with Axel Springer, the European digital publishing giant, and Finanzen.net, in order to launch a blockchain-based trading venue that rolls out a zero-fee trading app for crypto.

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Author: Oana Ularu

Blocknox, Boerse Stuttgart Subsidiary, Expands Crypto Custody To Institutional Investors

Boerse Stuttgart subsidiary Blocknox has expanded its crypto custody services to institutional investors, says an announcement made on Tuesday.

Blocknox is already known for offering crypto custody assets services on the escrow basis, but now it has made the same service available to Boerse Stuttgart BISON app’s users and the BSDEX digital assets exchange. The company’s plan is to expand its services even more, behind its own offerings, by safeguarding cryptocurrencies and other types of digital assets for institutional investors, asset managers and banks included.

Blocknox Has Been a Custodian in Germany for Over 1 Year

Talking about Blocknox and its plans, this is what the company’s managing director and Boerse’s chief digital officer, Dr. Ulli Spankowski, had to say:

“As a pioneer in Germany, Blocknox has already been operating as a custodian of cryptocurrencies for more than one year. Now we want institutional clients to benefit from our experience and set-up as well. They can use Blocknox’s reliable custody as a building block for their own services around digital assets.”

Besides, the firm said it already created and deployed a multilevel type of security concept for protecting the assets under its custody.

Blocknox Applying for a Custodian License

Germany has introduced in January new rules for the crypto services providers in the country. Blocknox mentioned it already applied for a license so that it can offer custody services provisionally. Furthermore, it wants to submit a final application before the deadline for becoming a regulated provider of financial services passes.

Spankowski thinks that functioning according to the new rules makes everything more professional in the crypto industry, which can encourage many other institutions to enter the same market. He may be right, as perhaps institutions that haven’t decided to function in the crypto space until now didn’t do it because the regulations were unclear.

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Author: Oana Ularu

Ripple Partner SBI Group and Germany’s 2nd Largest Stock Exchange Launch Digital Asset Initiative

Boerse Stuttgart Group, the German stock exchange owner, has partnered up with Japan’s SBI Group in order to jointly expand their business based on digital assets internationally.

The announcement was made in a press release from Friday. The 2 companies said they will function together in Europe and Asia, Japan included, to develop a global end-to-end digital assets system that utilizes the blockchain technology.

SBI to Invest in Boerse Stuttgart Digital Ventures

For the deal to be cemented, SBI Holdings will take a stake in Boerse Stuttgart Digital Exchange trading platform for regulated digital assets. More than this, it has a plan to make an investment in Boerse Stuttgart Digital Ventures, which is a subsidiary of Boerse Stuttgart Group that invests in financial startups with innovative ideas. According to the announcement, the 2 subsidiaries will carry out a type of business that’s based on digital assets in Europe and in Germany. This is what Boerse Stuttgart management board’s chairman, Alexander Höptner had to say about the partnership:

“Asia and Europe are the fastest growing markets for digital assets at the moment. Besides the exchange of knowledge and technology, possible fields of collaboration include the cross issuance and listing of digital assets, trading and brokerage as well as the creation of the first global custody bridge.”

SBI Active in the Digital Assets Space for 3 Years

SBI has been present in the digital assets space ever since 2016. It has launched a few payments app while being partnered up with Ripple and VC Trade, a crypto trading platform registered in Japan. Its subsidiaries are SBI Crypto Investments, SBI Crypto and the mining hardware producer, SBI Mining Crypto. SBI Holdings’ representative director and president, Yoshitaka Kitao, had this to say about the collaboration:

“The SBI Group, including its crypto-asset trading platform and other related business operating companies, will fully make use of the collaboration with Boerse Stuttgart Group, to well-establish the actual demands of the digital asset throughout the world.”

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Author: Oana Ularu

Second-Largest Exchange in Germany Starts Bitcoin (BTC) Spot Trading

The second-largest stock exchange of Germany, Exchange Boerse Stuttgart, has recently opened up a new branch to trade digital assets, the Boerse Stuttgart Digital Exchange (BSDEX). This new platform, which will be fully regulated by the local law, will start the trading of virtual assets, starting with a single trading pair: BTC/EUR.

Initially, the launch of the exchange was prepared to be made in the first half of 2019. However, as it happened to many other companies this year, the plans were delayed in order to be fully compliant with rules and requirements.

Now, BSDEX will be open for investors. At first, only investors from Germany (both retail and institutional ones) will be able to access the platform. However, after some time, it is expected that investors from all over the EU can trade as well.

The idea is to have a digital platform that will be open 24/7 and to add more trading pairs over time. While no asset is guaranteed to be listed, Ethereum (ETH), Ripple’s XRP and Litecoin (LTC) are all expected to be listed until the end of 2020.

Dirk Sturz, the CEO of the exchange, affirmed that the market is worth billions, so the company is focused on creating a platform that will cater to the European market of cryptos. Peter Großkopf, CTO at BSDEX, affirmed that the digital platform will give the customers access to low-cost trading and will help to shape the market in the future.

This is not the first crypto project of Boerse Stuttgart. The company has already participated in an Initial Coin Offering (ICO) before.

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Author: Gabriel Machado