Valour Launches NEAR Protocol (NEAR) Exchange-Traded Product (ETP) on Spotlight Stock Market
- WBOYOriginal
- 2024-07-20 05:12:19526browse
Crypto fund issuer Valour has launched an exchange-traded product (ETP) for Near Protocol's native token, NEAR, according to a July 17 announcement
Switzerland-based crypto fund issuer Valour has launched an exchange-traded product (ETP) for Near Protocol’s (CRYPTO: NEAR) native token, NEAR, its parent company announced on July 17.
The ETP will trade on Sweden’s Spotlight Stock Market, offering retail and institutional investors exposure to the decentralized application development platform, according to the announcement from DeFi Technologies (CBOE CA: DEFI).
"This new fund offering provides investors with access to an asset that is recognized for its transformative impact on DeFi and NFTs," said Elaine Buehler, Valour's head of product, referring to decentralized finance and non-fungible tokens.
Near Protocol is a technology stack that aims to solve several challenges in blockchain development, including user onboarding and multi-chain operability. Its native NEAR token ranks among the top 20 digital assets globally, with a market capitalization of about $6.8 billion, according to CoinMarketCap data.
Burrow, a decentralized money market protocol, and Mintbase, an NFT platform, are among the Web3 projects built on Near Protocol's technology stack.
The NEAR ETP will complement Valour's existing lineup of alternative digital asset ETPs. Notably, Valour operates one of the largest Solana ETPs, called Valor Solana, and offers a range of staking products, including ETPs for Bitcoin, Ethereum and Internet Computer.
In related news, U.S. regulators granted preliminary approval on July 16 for investment managers BlackRock, Franklin Templeton and VanEck to list the first exchange-traded ETH products in the United States. According to analysts, the impending launch of ETH ETFs could pave the way for a wave of new crypto exchange-traded products in the U.S., potentially including a Solana-based ETF.
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