XRP ETP Expands European Crypto Market
DeFi Technologies, through its subsidiary Valour Inc, plans to launch an XRP exchange-traded product (ETP) in early December 2023. This will provide a straightforward and secure way for investors to access XRP as the fifth-largest cryptocurrency globally, with a market capitalization of $31.6 billion.
According to the press release, the XRP ETP will be available on a major European exchange, allowing investors to access it via banks or brokerage services. This initiative reflects Valour’s commitment to meeting the growing demand for diverse digital asset investments in Europe.
Marco Infuso, Chief Sales Officer of Valour, expressed excitement about adding XRP to their suite of products, aligning with the growing investor interest in varied cryptocurrency assets.
The announcement also highlighted the functionality of XRP within RippleNet, where it serves as a bridge currency, facilitating efficient and cost-effective international money transfers.
Valour’s product portfolio includes other cryptocurrencies, showcasing their dedication to innovation and development in the cryptocurrency investment space.
Valour’s Expansion Strategy
Valour’s launch of the XRP ETP aligns with the trend among financial institutions to embrace cryptocurrency-based investment products. The company has hinted at plans to broaden its ETP offerings, including those backed by traditional assets and physical holdings.
While European investors welcome the introduction of XRP ETPs, the United States market continues to anticipate the approval of spot-based XRP ETFs. This disparity underscores the varying pace of regulatory and market acceptance of cryptocurrency-based financial products across different regions.
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Hot Take: DeFi Technologies Expands European Market with XRP ETP
DeFi Technologies’ decision to launch an XRP exchange-traded product (ETP) through its Valour Inc subsidiary in Europe is a significant move. This will provide investors with a secure avenue to gain exposure to XRP, bridging the gap between decentralized finance and traditional investment markets. The expansion of Valour’s product range reflects the increasing demand for diverse digital asset investments in Europe, signifying ongoing growth in the cryptocurrency investment space.
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