Cryptos: Singapore crypto exchange debuts shark fin structure

Bybit Shark Fin offers capital protection and uses up-and-out call options to generate the yield from the underlying strategy. The product offers a seven-, 14- or 21-day plan and the final yield is calculated based on the settlement price of the underlying asset when the plan expires, in comparison to the preset price range.

At the end of the period, if the final price is within the preset range, users can receive a maximum yield of up to 20%. If the price settles below or above the range they can receive up to 3% or 10% respectively.

This trading product is perfect for users looking for a simple, low-risk investment that is settled at regular intervals - Ben Zhou, Bybit

The product includes bullish or bearish strategies that speculate on whether the price of the underlying asset will rise or fall.

In a risk-off environment, many people are holding stablecoins, and seeking a low-risk yield for their capital, according to Ben Zhou (pictured), co-founder and CEO of Bybit.

‘This trading product is perfect for users looking for a simple, low-risk investment that is settled at regular intervals,’ he said.

InvestDefy adds STACC to yield enhancement range

Toronto-based crypto structured products provider InvestDefy has launched STACC, a dynamic weekly yield enhancement program for BTC and ETH.

Without employing leverage, STACC enables the growth of an investor’s stack of BTC and/or ETH, boasting greater annual percentage yields (APYs) than traditional call and put writing strategies.

Driven by InvestDefy’s Digital Asset Trading Automation (D.A.T.A.) platform and guided by its DORA Predictive Explorer analytics platform, the STACC programme is optimised to generate APYs each week while allowing for upside participation on the underlying asset.

STACC is also structured to allow all of the program's collateral and assets to be safely held with its custodian, eliminating the need to transfer assets to any counterparties, reducing exposure to undue risk, and further bolstering the safety and protection of assets, said James Niosi (right), CEO and co-founder at InvestDefy.

Using a weekly signal produced by the firm’s analytics platform, the product will express its view by selling one-week options using calls, puts, or a combination of both. Option structures are then automatically deployed into the STACC trading system, which prices the option(s) and routes for execution into the best market, controlling for liquidity, price discovery, and slippage. Yield in the form of premiums is reinvested each week, compounding over the lifetime of the investment.  

InvestDefy recently announced the strong performance of its weekly market neutral yield harvest program, Sygma - Sygma BTC generated an 8.52% return with an 8.63 volatility, and Sygma ETH returned -4.01% with a volatility of 14.6 from January 21, 2022 to July 1, 2022. During the same period, BTC dropped -50% with a volatility of 72, and ETH fell -62% with a volatility of 90.

BitMex dispatches first FX perpetual swap contracts

Crypto trading platforms BitMex has announced the launch of its FX perpetual swap contracts (FX perps), the market’s first-ever perpetual forex exchange swap listing.

The new product allows users to trade an initial 22 contracts on some of the most popular foreign currency pairs 24/7. As part of BitMex’s wider derivatives offering, individuals and institutions alike will be able to trade FX perps with up to 50x leverage.

The FX perpetual swap is a type of derivatives contract that blends the attributes of both the spot and future markets. The perpetual swap offers leveraged trading, working in a similar way to traditional futures contracts but without an expiry date.

The FX perpetual swap allows users to long or short FX pairs and are margined and settled in either Bitcoin or Tether (ERC-20) on the BitMex platform.

The FX perpetual swap is a product designed for both retail and institutional users. Previously retail FX trading was mostly possible via contract for difference so, for the first time, both retail users and institutional traders can get access to FX markets through an exchange-traded contract, stated the firm.

Enjin coin enters Leonteq tracker certificates catalogue

Swiss structured products provider has launched a new tracker certificate linked to the performance of enjin coin.

The Enjin project was launched on Ethereum in June 2018 and allows users to create blockchain assets such as NFTs with a focus on tokenising in-game items on the ethereum blockchain.

Enjin provides the end-to-end solution needed to launch NFTs projects without the need to code (eg a platform to create tokens, a marketplace to list them, and a wallet to help users trade and manage them) and other low code tools for developers to help them integrating NFTs and blockchain in their gaming application.

ENJ token is an Ethereum ERC-20 token needed to mint NFTs on the Enjin platform. Owners can melt their NFTs back into ENJ anytime. Enjin is also developing Efinity, a polkadot-based project for NFTs with its own token EFI.

This is the latest addition to Leonteq’s crypto tracker certificate range which includes 30 crypto assets, including bitcoin, cardano, ethereum, cosmos and solana.

21Shares expands ‘Crypto Winter’ product lineup

The Swiss ETP issuer has launched the 21Shares S&P Risk Controlled Bitcoin Index ETP (SPBTC) and 21Shares S&P Risk Controlled Ethereum Index ETP (SPETH) on the SIX Swiss Exchange.

The index-tracking products offer exposure to the respective assets, while targeting annual volatility of about 40%, via allocating more assets to USD when bitcoin or ether volatility rises.

‘Although Bitcoin and Ethereum are two of the best performing asset classes of the decade, risk-averse investors are often wary of its price fluctuations,’ said CEO Hany Rashwan (right). ‘We’re bringing down the volatility level on two of the most sought-after cryptocurrencies, to make it more palatable for investors to enter the asset class comfortably and to give investors a smoother ride.’

The launch come a few weeks after the company brought to market its Bitcoin Core ETP (CBTC), also in Switzerland — the first product in its so-called crypto winter suite - CBTC lends a portion of the underlying crypto on a fully collateralised basis to offset operating costs once the product scales.

Rashwan said the firm is looking to roll out several additional products in the suite throughout the second half of the year.

Pando Asset debuts crypto ETP link to prop index on SIX

Swiss asset manager Pando Asset has listed its first crypto ETP tracking the Vinter Pando Crypto Basket 6 Index at SIX.

The Pando Asset Crypto 6 ETP offers exposure to the performance of a basket of digital assets consisting of largest smart contracts assets by market capitalisation - bitcoin (BTC), ethereum (ETH), binance coin (BNB), solana (SOL) and cardano (ADA). The weight per asset is proportional to the square root of the market capitalisation of each coin.

Pando Asset is domiciled in Switzerland and is built by a group of industry professionals from finance, blockchain technology, and crypto asset space, such as Huobi Group, 21 Shares, and Deutsche Boerse.

Pando Asset has partnered with crypto asset custodian Coinbase and is 100% fully collateralised – it uses several safety measures including multiple signature authorisation, whitelisting addresses, cold storage, and audit trails.

The asset manager is the fifth new crypto ETP issuer to join SIX Swiss Exchange this year. With today’s crypto ETP listing by Pando Asset, investors can choose between a total of 176 crypto ETPs from 13 different issuers available for trading at SIX Swiss Exchange. In 2021, the segment of products with crypto asset underlyings at SIX Swiss Exchange has shown very strong growth.