- European digital asset manager Valour has launched an XRP exchange-traded product (ETP) on the Swedish Stock Exchange.
- This expands XRP’s exposure to the Nordic region ahead of a possible Ripple lawsuit conclusion, U.S. ETF launch and potential Ripple IPO.
European digital asset manager Valour has this week announced the launch of Ripple (XRP) and Binance (BNB) exchange-traded products (ETPs). A subsidiary of DeFi Technologies, Valour launches these products as part of its efforts to expand its range of digital asset investment products.
The company also reveals that the launch is motivated by European investors’ interest in digital assets. Furthermore, Valour launches XRP and BNB ETPs to provide European investors with easy access to these digital assets through banks and brokers.
Speaking on this exciting development, Johanna Belitz, Valour Head of Nordics, shared her views, stating:
We’re thrilled to announce the arrival of Valour BNB and Valour XRP to the vibrant investor community in the Nordics. With these additions, we proudly claim the title of the most comprehensive provider of crypto ETPs listed in the Nordics, presenting options both as singular assets and bundled within our VDAB10 product. This places us in a unique position to accommodate investors keen on navigating the cryptoverse conveniently, securely, and with ease.
This announcement had a positive effect on XRP. On the weekly chart, XRP is up by nearly 3%. At the time of writing, the 6th-ranked cryptocurrency is trading at $0.5449.
The launch comes amidst discussion about the launch of an XRP spot ETF. Experts have speculated that the ETF will launch in 2024 after the approval of a spot Bitcoin ETF in January and the filing and imminent approval of an ether spot ETF in May.
Notably, XRP is the only cryptocurrency that enjoys legal status, with the U.S. court declaring it not a security last year. However, with a legal battle still ongoing between Ripple and the SEC, which approves ETFs, it is unlikely one will be approved until the lawsuit is concluded.
The launch further coincides with the emergence of a report that categorizes XRP as a stablecoin because of its secure, seamless, and cost-effective cross-border transactions.
Experts believe that XRP has endured a three-year accumulation phase, with a breakout imminent. This breakout has been supported by Ripple advocate Bill Morgan. He acknowledged the poor performance, stating, “At least XRP isn’t last. The question is why has the performance over 90 days been so poor. It is unnatural.”
As CNF reported, a Bitcoin trader has revealed how his father made the courageous move to liquidate his house for $800,000 to acquire XRP. According to the trader, the altcoin will reach between $3 and $7 before the end of the year.
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