In a press statement published on August 24, the company noted that the new product would track the price of BNB, the native token of the Binance Chain while promising minimal fees. According to Valour, the new product, which ranks as the company’s tenth ETP, will help investors avoid excessive risk exposure and enjoy operational efficiency. Besides BNB, Valour also manages other ETPs involving UniSwap (UNI), Cardano (ADA), Polkadot (DOT), Solana (SOL), Avalanche (AVAX), Cosmos (ATOM), and Enjin (ENJ). The company also hosts the Bitcoin Zero and Ethereum Zero investment products backed by Bitcoin (BTC) and Ethereum (ETH), respectively.
ETPs to drive crypto adoption
In general, the rollout of ETPs is viewed as an avenue to drive crypto adoption since the product eliminates the technical bit of investing and holding digital currencies. Notably, several German exchanges host fully hedged digital asset ETPs offered by different platforms as companies move to drive crypto adoption globally. For instance, the Iconic Funds’ Physical Bitcoin ETP debuted on Deutsche Börse’s Xetra for trading that began on May 12, allocating a total expense ratio of 0.95%.
