21Shares Short Bitcoin ETP

ISIN CH0514065058


Ticker SBTC

2.50% p.a.
Distribution policy
Fund size
4 m
  • This fund does only have marketing distribution rights for Austria, Switzerland, Germany, Spain, France, Italy, Netherlands.



The product tracks the inverse performance of the cryptocurrency Bitcoin.
The ETN's TER (total expense ratio) amounts to 2.50% p.a.. The ETN replicates the performance of the underlying index synthetically with a swap.
The 21Shares Short Bitcoin ETP is a very small ETN with 4m GBP assets under management. The ETN was launched on 22 January 2020 and is domiciled in Switzerland.
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Short strategy




Fund size
GBP 4 m
Total expense ratio
2.50% p.a.
Replication Synthetic (Swap-based)
Legal structure ETN
Strategy risk Short
Fund currency USD
Currency risk Currency unhedged
Volatility 1 year (in GBP)
Inception/ Listing Date 22 January 2020
Distribution policy Accumulating
Distribution frequency -
Fund domicile Switzerland
Fund Provider 21Shares
Germany No tax rebate
Switzerland Unknown
Austria Unknown
UK Unknown
Indextype -
Swap counterparty -
Collateral manager -
Securities lending No
Securities lending counterparty -

Similar ETNs

This section provides you with information on other ETNs with a similar investment focus to the 21Shares Short Bitcoin ETP.
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Returns overview

YTD -20.00%
1 month -21.95%
3 months -34.69%
6 months -54.93%
1 year -67.01%
3 years -70.37%
5 years -
Since inception (MAX) -97.96%
2023 -72.97%
2022 +97.33%
2021 -76.04%
2020 -

Monthly returns in a heat map


Risk metrics in this section:
  • Volatility, annualised, measured for 1, 3 and 5 year periods. The annualised volatility reflects the degree of price fluctuations during a one year period. The higher the volatility, the more significantly the price of the asset (stock, ETF, etc.) has changed in the past. Assets with higher volatility are generally considered more risky. We calculate the volatility based on the data for the past 1, 3 and 5 years so that you can see if price fluctuations for the ETF became stronger or weaker over time.
  • Return per risk for 1, 3 and 5 year periods. This is the annualised (i.e. converted to a one year period) past return divided by the past annualised volatility. The metric puts the historical return of an asset in relation to its historical risk and gives you a retrospective indication of the degree of price fluctuation you had to bear with in order to obtain the return. We calculate this parameter for 1, 3 and 5 year periods to display its evolution over time.
  • Maximum drawdown for a period. This shows the worst possible loss an investor could have suffered during the respective period, by first buying and subsequently selling the asset at the least favourable prices. For example, if there was the following sequence of daily ETF prices: 10€, 5€, 12€, 20€, an investor would have suffered the worst loss by buying for 10€ and subsequently selling for 5€. Therefore in this case the maximum drawdown would be (5€ - 10€)/10€ = -50%.
ETF returns include dividend payments (if applicable).
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Risk overview

Volatility 1 year 50.76%
Volatility 3 years 64.46%
Volatility 5 years -
Return per risk 1 year -1.32
Return per risk 3 years -0.52
Return per risk 5 years -
Maximum drawdown 1 year -71.68%
Maximum drawdown 3 years -79.75%
Maximum drawdown 5 years -
Maximum drawdown since inception -98.70%

Rolling 1 year volatility

Stock exchange


Listing Trade Currency Ticker Bloomberg /
iNAV Bloomberg Code
Reuters RIC /
iNAV Reuters
Market Maker
Euronext Amsterdam USD SBTC -
Euronext Paris EUR SBTC -
SIX Swiss Exchange USD SBTC -
gettex EUR 2SBT -

Frequently asked questions

What is the name of SBTC?

The name of SBTC is 21Shares Short Bitcoin ETP.

What is the ticker of 21Shares Short Bitcoin ETP?

The primary ticker of 21Shares Short Bitcoin ETP is SBTC.

What is the ISIN of 21Shares Short Bitcoin ETP?

The ISIN of 21Shares Short Bitcoin ETP is CH0514065058.

What are the costs of 21Shares Short Bitcoin ETP?

The total expense ratio (TER) of 21Shares Short Bitcoin ETP amounts to 2.50% p.a.. These costs are withdrawn continuously from the fund assets and already included in the performance of the ETF. You don't have to pay them separately. Please have a look at our article for more information about the cost of ETFs.

What's the fund size of 21Shares Short Bitcoin ETP?

The fund size of 21Shares Short Bitcoin ETP is 4m GBP. See the following article for more information about the size of ETFs.

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— Data provided by Trackinsight, etfinfo, Xignite Inc., gettex, FactSet and justETF GmbH.

Quotes are either real-time (gettex) or 15 minutes delayed stock exchange quotes or NAVs (daily published by the fund provider). By default, ETF returns include dividend payments (if applicable). There is no warranty for completeness, accuracy and correctness for the displayed information.