On January 22, 2020, Amun AG (Amun), a Zug-based special purpose issuance vehicle of the fintech group Amun, successfully issued and listed a new Series of Products (Ticker: SBTC) on the SIX Swiss Exchange. These Products, the "21Shares Short Bitcoin ETP" are linked to the inverse performance of Bitcoin (BTC) and allow a -1x exposure to Bitcoin (BTC)'s performance on a daily basis. The purpose of this Product is to allow investors to, on a short-term basis, benefit from a negative development in the value of Bitcoin (BTC), the largest cryptocurrency.
Homburger advised Amun with respect to all aspects of Swiss law. The Homburger team was led by partner Benjamin Leisinger (Capital Markets) and comprised associates Urs Meier (Banking and Finance, Technology and Digital Economy) and Stefan Bindschedler (Banking and Finance) as well as paralegal Ganna Goncharova (Banking and Finance).