A Bitcoin scaling solution called Core DAO has its first exchange-traded product launched by DeFi Technologies subsidiary Valour.
The first exchange-traded product (ETP) for Core DAO (CORE), a layer-1 solution powered by Bitcoin that combines delegated proof-of-stake and proof-of-work consensus processes, has been created by Switzerland-based financial business Valour.
The Core Foundation announced that the new “CORE ETP” product will be offered on the Spotlight Stock Exchange as part of their mission to provide investors with “a new way to get exposure to the Core blockchain network” in a press statement that crypto.news was allowed to view.
The introduction of the ETP, according to Rich Rines, the original contributor to CoreDAO, represents a “valuable contribution” to the project. He also mentioned that institutions and other players in traditional finance can now use the native CORE coin.
Core is a blockchain backed by Bitcoin that was founded in 2022 with the goal of providing EMV-compatible services like yield-bearing Bitcoin ETP and non-custodial Bitcoin staking.
The debut for DeFi Technologies coincides with a week after the company was forced to deny claims of stock manipulation and inflated growth by cryptocurrency newsletter CoinSnacks, which questioned the reasons behind the 3,400% increase in the company’s stock price over the previous year.
The company’s stock gains, according to CoinSnacks, were fueled by “influencer pumps, mentions on CNBC, email campaigns, and endorsements by Pomp [Anthony Pompliano],” according to a report published on June 18.
DeFi Technologies responded the next day, rejecting the accusations made by CoinSnacks and characterizing the article as “unfounded” with “defamatory, selective, inaccurate, incomplete, and misleading statements, speculation, and innuendo” in its press release.
