- DeFi Technologies’ subsidiary, Valour, is set to launch the XRP ETP on the European market next month.
- XRP, with a market cap of $32.7 billion, plays a pivotal role in international money transfers and is gaining popularity among investors.
In a groundbreaking move within the realm of crypto innovation, DeFi Technologies’ subsidiary, Valour, has revealed its plans to introduce the XRP Exchange-Traded Product (ETP) to the European market in the upcoming month. This strategic initiative not only signifies a significant diversification of product offerings but also effectively caters to the escalating interest in crypto asset investments across Europe.
The imminent XRP ETP aims to provide investors with a simplified and secure means to access XRP, a cryptocurrency that has garnered substantial recognition as a cornerstone of the crypto market. Investors will be able to acquire XRP directly through their bank or broker, eliminating the complexities often associated with crypto purchases.
XRP has emerged as a dominant force with a commanding market capitalization of $32.7 billion, securing its place as the fifth-largest digital asset globally. Its claim to fame lies in serving as a bridge that facilitates rapid and cost-effective international money transfers within Ripple’s extensive ecosystem. Financial institutions increasingly turn to XRP as an efficient alternative to conventional cross-border payment methods.
Valour’s Contribution to the Expanding XRP ETP Market
Valour’s forthcoming XRP ETP launch adds an exciting dimension to the ever-expanding market for exchange-traded products linked to XRP. Pre-existing solutions offered by prominent entities like CoinShares, 21Shares, and ETC Group have already played a pivotal role in bolstering the popularity of XRP-focused investment products.
In the ongoing year of 2023, XRP ETPs have attracted a substantial $13 million in inflows, amassing an impressive $68 million in assets under management. This places XRP ETPs second in line among altcoin-oriented ETPs, trailing only behind Solana (SOL).
