Boerse Stuttgart, Germany’s second largest exchange with bitcoin ETP

Boerse Stuttgart, the second largest stock exchange in Germany, has added the 21Shares Short Bitcoin ETP to its portfolio.

Boerse Stuttgart with a new product

Boerse Stuttgart has just launched a brand new investment product for institutional and retail investors. 21Shares Short Bitcoin ETP is the first such tool for the Bitcoin investment industry.

The Bitcoin ETP will be secured by the underlying component in ratio 1: 1. It is also ETP’s first Bitcoin-based financial instrument, plus the International Securities Identification Number (ISIN) and the Wertpapierkennnummer (WKN). The underlying BTC will be held by an independent depositary. The ETP shares will also be approved by the SFSA, the Swiss financial supervisory authority. This gives the new tool considerable credibility.

In practice, it also means that investors in Germany and other European markets can now obtain short exposures to BTCs when prices start to fall.

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Germany is opening up to cryptocurrencies

With the new EU anti-money laundering guidelines, 5AML, crypto companies can no longer be discriminated against by banks. They must be treated like any other business. European investors have long insisted on clear rules that are crypto-friendly.

Thanks to these changes, it is quite real that German banks, for example, will enter this market. We have already informed that supposedly more than 40 financial institutions in our western neighbours have declared to BaFin, the counterpart of the Polish NCF, that they are interested in services related to digital currencies. Let us recall that a new law has been in force in Germany since this year, which allows banks to store the crypto. We wrote about the regulations here in autumn 2019.

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As the first German financial company to open a on crypto is Solarisbank.

“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 licence themselves”.

– the company handed over.

The bank has a full banking license and can provide services for many German startups from the fintech market. “Digital assets will fundamentally change the financial market,” said Michael Offermann, Managing Director of Cryptographic Banking at Solarisbank.

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