Cardano and Polkadot ETPs were released on the Frankfurt Stock Exchange today. DeFi Technologies, through its subsidiary Valour, has received approval on the Frankfurt Stock Exchange for Polkadot (DOT) and Cardano (ADA) ETP (exchange-traded products) transactions. Details cryptocoin.com‘in.
Important day for Cardano and Polkadot
The company stated in its press release that the product will be called Valor Polkadot (DOT) EUR and Valor Cardano (ADA) EUR. Trading in ETPs started as of Monday, February 14, 2022. Valor Polkadot (DOT) EUR ETP will follow the DOT value. This transaction comes after the network started a major development such as integrating the Ethereum Virtual Machine into the parachain network. In addition, Valor Cardano (ADA) EUR ETP will monitor Cardano (ADA) performance. The company cited Cardano (ADA)’s choice of cost-effectiveness as the driving force for launching the product. Two investment vehicles are added to Varlor’s existing product portfolio, including Valor Uniswap (UNI), Solana (SOL) ETPs, Bitcoin Zero and Valor Ethereum Zero products.
According to DeFi Technologies, the product targets retail and institutional investors looking to invest in Polkadot and Cardano networks. By trading the products, investors will also be able to easily buy shares. Also, Valor CEO Tommy Fransson stated that the product launch was based on increased interest. Fransson says:
Through these listings at Boerse Frankfurt we are expanding our product offerings in the broad German market. We saw a lot of interest in these cryptoassets in Scandinavia, where Valor Polkadot and Cardano are already listed. We look forward to empowering more investors across Europe to access leading industry ETPs.
In recent months, Switzerland-based Valor has stepped up the launch of various crypto-related products. For example, in October last year, the company announced plans to launch the world’s first exchange-traded product (ETP) by tracking the token of decentralized exchange Uniswap. The products also impacted the company’s financial results. By November 2021, the company had over $370 million in assets under management resulting from the trading of its products on the NGM and Frankfurt stock exchanges.
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