Valor launches ETP based on NEAR in Sweden
Date: 2024-07-18 Author: Gabriel Deangelo Categories: BUSINESS
Valour Inc., a subsidiary of DeFi Technologies, announced the launch of an exchange traded product (ETP) based on the NEAR Protocol token. The new ETP is listed on the Swedish Spotlight exchange and provides investors with convenient access to the NEAR ecosystem.
New Product Review
This ETP provides retail and institutional investors with a secure and diversified way to invest in NEAR Protocol, one of the top 20 largest crypto assets with a market capitalization of $5.6 billion.
“This exchange-traded fund provides retail and institutional investors with seamless access to the innovative and fast-growing NEAR ecosystem, allowing them to participate in a decentralized web-based platform that aims to transform the future of digital finance,” the company said in an official release.
NEAR Protocol is known for its high scalability and low transaction costs, making it attractive for supporting decentralized applications (dApps). These features help NEAR stand out from other cryptocurrencies and offer significant benefits to developers and users.
Expansion of the Valour product line
Since the beginning of 2024, Valor Inc. launched 11 different cryptocurrency ETPs. In addition to NEAR, the company also introduced exchange-traded funds based on Core (CORE) and Hedera (HBAR) on the same Spotlight exchange. Valor Inc only ETPs
Valor continues to expand its product line and plans to add new ETPs in the near future. This demonstrates the company's commitment to providing investors with diverse options and relevant investment opportunities in cryptocurrencies.
ETP (Exchange Traded Product) is a broader concept than ETF (Exchange Traded Fund). Both instruments allow investors to invest in a specific asset without purchasing it directly, but through fund shares, providing additional flexibility and convenience.
Market reaction
The NEAR token practically did not react to the news about the launch of a new ETP. On the price chart you can see a pullback after the jump that occurred in mid-July 2024.
Grayscale Investments previously announced the launch of a trust to access NEAR. Bloomberg Intelligence analyst Eric Balchunas predicts the emergence of new cryptocurrency exchange-traded funds, especially after the start of trading in shares of spot Ethereum-ETFs.
Launch of a new ETP based on NEAR Protocol from Valor Inc. highlights the growing interest in decentralized projects and their potential to change the future of digital finance. This move allows investors to gain access to promising assets with high scalability and low transaction costs, providing new investment opportunities and portfolio diversification.
