//

Valour Launches NEAR Token ETP on Sweden’s Spotlight Stock Market

Web3 projects like Burrow, a decentralized money market protocol, and Mintbase, an NFT platform, are built on Near Protocol’s technology stack.

Crypto fund issuer Valour has announced the launch of an exchange-traded product (ETP) for Near Protocol’s native token, NEAR, according to a July 17 statement from Valour’s parent company, DeFi Technologies (CBOE CA: DEFI).

The new ETP will trade on Sweden’s Spotlight Stock Market, providing both retail and institutional investors with exposure to the decentralized application development platform, the announcement revealed.

Elaine Buehler, Valour’s head of product, stated that the new fund offering would allow investors to access an asset known for its “transformative impact on DeFi and NFTs,” referring to decentralized finance and non-fungible tokens.

Near Protocol is designed to overcome many challenges inherent in blockchain development, such as user onboarding and cross-chain operations.

Its native NEAR token has a market capitalization of around $6.8 billion, ranking it among the top 20 digital assets worldwide, according to CoinMarketCap data.

READ MORE: Metaplanet Buys $1.2M in Bitcoin Amid Rally, Shares Soar 25%

Web3 projects like Burrow, a decentralized money market protocol, and Mintbase, an NFT platform, are built on Near Protocol’s technology stack.

The NEAR ETP joins Valour’s existing portfolio of alternative digital asset ETPs.

Valour operates one of the largest Solana ETPs, Valor Solana, and offers various staking products, including ETPs for Bitcoin, Ether, and Internet Computer.

On July 16, U.S. regulators reportedly granted preliminary approval to investment managers BlackRock, Franklin Templeton, and VanEck to list the first exchange-traded ETH products in the U.S. Analysts suggest that the launch of ETH ETFs may lead to a surge in crypto exchange-traded products in the U.S., including a potential Solana-based exchange-traded fund (ETF).

DeFi Technologies, Valour’s parent company, manages approximately $600 million in assets across various crypto-native strategies.

On July 16, DeFi Technologies agreed to acquire trading desk Stillman Digital in an all-stock deal, which analysts believe will transform the Canadian crypto platform into “a smaller version of Galaxy Digital.”


To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

No information published in Crypto Intelligence News constitutes financial advice; crypto investments are high-risk and speculative in nature.