Valor is launching its exchange-traded product (ETP) focused on Binance Coin (BNB). BNB is the altcoin project of the cryptocurrency exchange Binance. Here are the details…
Popular altcoin BNB in Böerse Frankfurt
Valor, a popular Swiss-based technology firm that bridges the gap between traditional capital markets and decentralized finance (DeFi), has made a new announcement. On Wednesday, Binance Coin (BNB) announced the launch of its Exchange Traded product (ETP) on Börse Frankfurt, a German exchange. According to the announcement, the new product will begin trading on the Frankfurt stock exchange on August 24. An ETP is a specific type of financial product or security that tracks underlying securities, an index, or a financial instrument that can be easily purchased on exchanges similar to stocks.
The new Binance ETP with the tag “Valour Binance (BNB) EUR ETP (CH1149139672)” is also designed to follow the BNB price. According to Coinmarketcap data, cryptocurrency is among the five most important virtual currencies in the world, with a market capitalization of $47.8 billion. Russell Starr, CEO of Valour, made a statement regarding the latest development. He stated that the new Binance ETP product will provide investors with exposure to the product at Börse Frankfurt. Starr used the following statements:
BNB is a dynamic digital asset. Valor offers exposure to this token on Börse Frankfurt, enabling investors to take risks safely and securely through an elite and reputable exchange. As more investors seek to diversify digital assets, I am confident that our low fee model will attract interest in our Valor (BNB) ETP.
ETPs are critical to crypto adoption
Since its launch in 2019, the company has been offering ETP products traded on regulated exchanges such as Börse Frankfurt in Germany and Nordic Growth Market in Sweden. Some of its current products include Cardano (ADA), Polkadot (DOT), Solana (SOL), and the largest of cryptocurrencies Bitcoin (BTC). The company also hosts Bitcoin Zero and Ethereum Zero investment products, which are backed by Bitcoin (BTC) and Ethereum (ETH), respectively.
Overall, the launch of ETPs is seen as a way to drive crypto adoption as the product removes the technical part of investing and holding digital currencies. In particular, several German exchanges companies are moving to promote crypto adoption globally. It hosts fully protected digital asset ETPs offered by different platforms. For example, Iconic Funds’ Physical Bitcoin ETP debuted on Deutsche Börse’s Xetra for trading on May 12.
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