Cardano And Polkadot ETPs Hit Frankfurt Stock Exchange

In the latest cryptocurrency news, we can see that the Switzerland-based DeFi Technologies subsidiary Valour plans to offer more single-asset crypto baskets with thematic ETPs. As the update from the CEO shows, Cardano and Polkadot are the two new exchange-traded products (ETPs) that are listed on the Frankfurt stock exchange.

The exchange, named Boerse Frankfurt Zertifikate AG, has given Valour approval to list the price of Solana (SOL) earlier this month as an ETP, and now it’s time for ADA and DOT to join the party.

Speaking of which, Cardano’s native token ADA has a market cap of around $33 billion and is the seventh-largest cryptocurrency coin by its market cap. It stands behind XRP and ahead of SOL. Polkadot’s DOT token has a market cap of around $20 billion, making it the 10th highest coin ahead of Avalanche (AVAX) and the trailing Terra (LUNA).

Cardano and Polkadot are now ETPs on the Frankfurt stock exchange, but in addition to them and Solana, Valour offers a Uniswap (UNI) fund, too, as well as the fee-free Bitcoin Zero and Ethereum Zero products.

The CEO of Valour Tommy Fransson said that the firm decided to list the new products in Frankfurt after the demand it saw for its Cardano and Polkadot ETPs in the Swedish market. The executive noted that the investor utility of a specific asset is more important than its market cap, especially when choosing to launch a single-asset product.

“We are looking into bringing more single-asset products but also baskets, themes and indices,” the CEO explained. “We think that we are only at the beginning of the amount of crypto offerings on regulated exchanges.”

The Cardano and Polkadot ETP launches are the latest in a series of launches outside the US focused on assets beyond Bitcoin and Ethereum. As a reminder, CoinShares launched Polkadot and Tezos ETPs last month in Germany – designed to share staking rewards with investors.

On the other hand, the New York-based Grayscale published a new list with 25 digital assets it considers investing in, which include the names of  Algorand (ALGO), Axie Infinity (AXIE), Cosmos (ATOM), Fantom (FTM), and Helium (HNT).

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• Source: https://www.dcforecasts.com/cardano-news/cardano-and-polkadot-etps-hit-frankfurt-stock-exchange/