Boerse Stuttgart is the second largest stock exchange in Germany. It has also added a 21 Shares Short Bitcoin ETP to its portfolio.
New product of Boerse Stuttgart
Boerse Stuttgart has just launched a brand new investment product for institutional and retail investors. 21Shares Short Bitcoin ETP is the first of its kind for the Bitcoin investment industry.
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The Bitcoin ETP will be secured by a one-to-one ratio of the underlying component. It is also the first financial instrument of ETP that is based on Bitcoin. In addition, it is identified by the International Securities Identification Number (ISIN) and the Wertpapierkennnummer (WKN). The underlying BTC will be kept by a depositary that is obviously independent. The ETP shares will also be approved by the SFSA. This is the Swiss financial supervisory authority. This gives the new tool considerable credibility.
In practice, this means that investors in Germany, compared to other European markets, can also obtain short exposure to BTCs when prices start falling.
Germany is opening up to cryptocurrencies
The European Union on anti-money laundering, 5AML, cryptic companies can no longer be discriminated against by banks. They must be treated the same as any other business. European investors have also long demanded clear rules that are crypto-friendly.
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Thanks to these changes, it is quite real that German banks, for example, will enter this market. We have already informed you that supposedly more than forty financial institutions have declared to BaFin, the counterpart of the Polish NCF, that they are most interested in services related to digital currencies. We must also remind you that as of this year a completely new law has been in force in Germany, which allows banks to store the crypto. We have already written about these regulations in autumn 2019.
As the first German financial company to open on cryptocurrencies is Solarisbank
However, as a subsidiary of Solarisbank AG, Solaris Digital Assets plans to meet the regulatory requirements of the German market and to ensure the regulatory storage of digital assets so that partners do not have to apply for a license themselves. The company provided us with this information.
The bank has a full banking license and can provide services for many German startups in the fintech markets. Solarisbank’s Cryptographic Banking Managing Director Michael Offermann said that digital assets are fundamentally changing the financial market.
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As we can see in the attached picture, the world of cryptography continues to surprise us. There is certainly something new happening all the time. What’s more, new stock exchanges are being created, which continue to surprise us with their new products. It is worth to keep up to date with all this information. A little downtime may cause that we will not find ourselves in all this.