- A new listed trading commodity that tracks the price of Solana’s native crypto has begun trading on the German exchange Boerse Denmark Zertifikate AG with the identification number A3GU9Y.
- ETP provides traditional investors with cryptocurrency exposure in a regulated “fully supported” environment
A subsidiary of crypto company DeFi Technologies has been approved by Boerse Denmark Zertifikate AG to list a listed trading product (ETP) that tracks the price of Solana’s native crypto (SOL).
According to a press release on Monday, Valor’s Solana ETP opened on Tuesday with the German securities identification number A3GU9Y. ETP tracks SOL prices directly by calculating the arithmetic mean price from major crypto exchanges.
Such lists provide traditional investors with a way to pave the way for the crypto industry by reducing certain risk concerns due to the regulated structure of exchanges.
Valor claims that it is “always fully supported” and states that this will be achieved by buying or selling an amount equal to the underlying assets of all Valor ETPs bought and sold on Boerse or another exchange. I did.
This product provides investor exposure to SOL that can be purchased directly from banks or brokers. ETP is a financial product that provides investment or exposure to various securities and is traded on exchanges.
The reference price for Solana ETP is set using the average price of the underlying asset SOL / USD from the four most liquid exchanges on the market. Then, according to the market fact sheet, the dollar value of SOL / USD is calculated in euro.
This list is an extension of Valour’s recently launched Metaverse and Gaming Index ETP, which tracks the top five digital assets associated with virtual worlds. Indeed, Europe seems to be making great strides ahead of other regions in its crypto ETP list, following the products of multiple companies on various exchanges on the continent.
Russell Star, CEO of Defy Technologies, said: “We are also looking forward to launching several new products in the coming days and eventually launching all of them on the Euronext exchange, the fourth largest exchange in the world.”
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Sebastian Sinclair
Blockworks
Asia News Desk Senior Reporter
Sebastian Sinclair is a senior news reporter for Blockworks in Southeast Asia. He has experience covering not only the crypto market, but also specific developments that affect industries such as regulation, business and M & A. He currently does not have cryptocurrencies.
