Europe to Launch XRP ETP in December
Investors stateside in both the cryptocurrency and traditional finance worlds are eagerly awaiting a Bitcoin ETF product in the U.S. But those in Europe looking for an XRP exchange-traded product will have one next month.
DeFi Technologies, Inc. announced last week it will debut a new Ripple XRP ETP on a European exchange. The Canada-based Web 3.0 company will be ready to launch the product in early December.
It will offer the product through its subsidiary, Valour Inc. The blockchain company says the Ripple ETP will cater to the “growing demand among European investors for diverse cryptocurrency exposure.”
XRP Price Tied to SEC Lawsuit
Ripple price is on the rebound after tumbling from $0.72 to $0.58 the second week in November. The cross-border blockchain network designed for institutional finance saw its XRP tokens rise by 12% in the past 30 days and 36% over the past six months.
The XRP investor community has been waiting on the edge of their seats for months for a resolution of a years-long SEC lawsuit. One XRP analyst recently predicted the Ripple token could achieve a market price of $0.71 to finish the year.
Hot Take: European Investors Get Access to XRP ETP
European investors will soon have access to an XRP Exchange-Traded Product (ETP) through DeFi Technologies’ subsidiary, Valour Inc. This move comes as investors in both cryptocurrency and traditional finance circles eagerly await a Bitcoin ETF product in the United States.
The launch of the Ripple XRP ETP aims to meet the growing demand among European investors for diverse cryptocurrency exposure. It is part of Valour’s strategy to provide regulated access to a range of digital assets. This development comes as the XRP price rebounds and the XRP investor community anxiously awaits the resolution of the SEC lawsuit. With the launch of the XRP ETP, European investors will have a new opportunity to invest in this cryptocurrency.
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