DeFi Technologies’ Valour introduces an exchange-traded product (ETP) for NEAR

DeFi Technologies, Valour’s parent firm, has announced a new exchange-traded product for NEAR, the native token for the Near Protocol. The company revealed that Valour’s first exchange-traded product will be available on Sweden’s Spotlight Stock Market. 

Also Read: NEAR Protocol price prediction 2024-2030: Is NEAR a good investment? 

Valour, a crypto fund issuer, has released the exchange-traded product for NEAR, the native token belonging to Near Protocol. DeFi Technologies, Valour’s parent company, announced the ETP on July 17. The firm revealed that the ETP will be traded on Sweden’s Spotlight Stock Market.

NEAR ETP joins the list of Valour’s digital asset ETPs 

Since this morning, our new product and the very first ETP with the @NEARProtocol as underlying asset, is trading at Spotlight Stock Market in Sweden!

💬 "By launching the world's first Valour NEAR ETP, we’re giving investors an extraordinary chance to dive into the… pic.twitter.com/vQtyX6nLCs

— Valour (@ValourFunds) July 17, 2024

The new ETP has joined the existing list of Valour’s digital asset ETPs. Data on the Valour website show that the firm has operated Valor Solana, one of the biggest Solana exchange-traded products, for years. The company also has a suite of staking products, including exchange-traded products for Bitcoin.

DeFi Technologies said the exchange-traded product would be traded on the Spotlight Stock Market in Sweden. The ETP’s availability on Sweden’s Spotlight Stock Market will give retail and institutional investors access to the decentralized application creation platform. 

Elaine Buehler, the firm’s head of product, said the new fund offering will enable investors to access NEAR protocol, which is known for its transformative impact on NFTs and DeFi. 

Near Protocol reveals its milestones in the industry

Near Protocol claims to be a tech stack developed to eliminate the traditional challenges experienced in blockchain development. According to the team, operating across several chains and onboarding users are some of the major blockchain challenges Near Protocol addresses. The Near Protocol website shows that it has been used to build Mintbase, an NFT site, and other Web3 projects such as Burrow, a decentralized money market protocol.

The Protocol’s native token, NEAR, currently has a market cap of $6.8 billion, ranking it among the top 20 digital assets as per CoinMarketCap data.