Asset management company, Valour, has introduced its Hedera staking exchange-traded product on the Euronext Amsterdam.
On December 18, the ETP issuer revealed that it had expanded its Hedera ETP offerings for European clients by listing the 1Valour Hedera Physical Staking ETP on Euronext Amsterdam.
To make the product, which is based on the HBAR token, accessible, Valour is working with The Hashgraph Group, a venture finance and tech platform within the Hedera ecosystem.
The Hashgraph Group provided $5 million in seed capital for the Hedera HBAR ETP’s debut. Valour claims that the launch is a component of the company’s larger goal to connect decentralized technologies with traditional finance.
This endeavor responds to the substantial demand for ETPs in the cryptocurrency market. According to the most recent figures, inflows into ETPs worldwide have topped $44.5 billion this year.
Significant inflows have also been observed in spot exchange-traded funds, like BlackRock’s iShares Bitcoin Trust.
In September, Valour launched its Ethereum staking ETP, which is physically backed, on the London Stock Exchange.
In July, it also unveiled an ETP for the NEAR Protocol. According to the base prospectus of Valour Digital Securities Limited, the physically backed HBAR product is the first to be listed on the pan-European Euronext exchange.
DeFi Technologies’ CEO, Olivier Roussy Newton, emphasized the importance of the Hedera HBAR ETP launch:
“This listing broadens opportunities for institutional and retail investors to participate in Hedera’s robust, sustainable network while aligning with the growing demand for transparent and regulated digital asset investments,” he added.
At more than $11.4 billion, Hedera’s proof-of-stake project is presently the 21st largest cryptocurrency by market capitalization.
In recent months, the price of the native token, HBAR, has increased in tandem with the market as a whole.
The total value locked on the platform has increased due to network expansion supported by the introduction of several HBAR products.
Furthermore, the Hedera governing council now includes 33 members, including significant organizations like Standard Bank, IBM, Google, Abrdn, and Deutsche Telekom.
