- Valour, a subsidiary of DeFi Technologies based in Switzerland, intends to offer more single-asset crypto basket, thematic ETPs.
- According to Valour’s CEO, the company is “only at the beginning” of bringing crypto products to regulated exchanges.
- The launches follow a flurry of altcoin ETP launches from rival companies 21Shares and CoinShares.
Valour, a DeFi Technologies subsidiary, has launched two more exchange-traded products (ETPs) on the Frankfurt stock exchange, this time focusing on Cardano and Polkadot. The new offerings come after the exchange, the Boerse Frankfurt Zertifikate AG, granted Valour permission to list an ETP tracking the price of Solana (SOL) earlier this month.
The market capitalization of Cardano’s native token, ADA, is approximately $33 billion. ADA is the seventh-largest crypto coin by market capitalization, trailing only XRP and ahead of SOL.
Meanwhile, Polkadot’s (DOT) market cap is around $20 billion, ranking it tenth among publicly traded companies, ahead of Avalanche (AVAX) and trailing Terra (LUNA).
Valour also offers a Uniswap (UNI) fund, as well as fee-free Bitcoin Zero and Ethereum Zero products, in addition to the Cardano, Polkadot, and Solana ETPs.
In a social media release, Valour CEO Tommy Fransson stated that the company decided to list the new products in Frankfurt due to the high demand for its Cardano and Polkadot ETPs in the Swedish market.
When deciding whether to launch a single-asset product, the executive stated that the investor utility of a particular asset is more important than its market cap.
Valour intends to bring these products to other countries, including Switzerland and Austria, according to Fransson.
“We are looking into bringing more single-asset products, as well as baskets, themes, and indices,” said the CEO. “We believe that the number of crypto offerings on regulated exchanges is just getting started.”
The ETP launches are the latest in a string of ETP launches outside of the United States that have focused on assets other than bitcoin and ether.
21Shares, the world’s largest crypto ETP issuer, has recently launched products focused on Aave (AAVE), Chainlink (LINK), UNI, Decentraland (MANA), and FTX Token (FTT).
Hany Rashwan, the company’s CEO, previously told in an interview that the company hopes to have ETPs supporting the top 50 cryptocurrencies by the end of 2022.
CoinShares launched Polkadot and Tezos ETPs in Germany last month, with the goal of sharing staking rewards with investors. According to a CoinShares report published Monday, digital asset investment products received $75 million in inflows last week. Inflows into recently launched altcoin offerings tracking Terra, Tezos, and Cosmos were $2.2 million, $900,000, and $600,000, respectively.
Grayscale, based in New York, has released a list of 25 new digital assets in which it is considering investing, including Algorand (ALGO), Axie Infinity (AXIE), Cosmos (ATOM), Fantom (FTM), and Helium (HNT). The company had recently added payment network Amp (AMP) to its investment portfolio.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.
