Bitcoin-powered Core DAO Debuts Its Own ETP on Sweden’s Stock Exchange
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Loading... - Freya Hahn
- 18 Jul 2024
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DeFi Technologies’ subsidiary, Valour, has launched the first exchange-traded product (ETP) for Core DAO, a Bitcoin scaling solution, on the Swedish stock exchange. This new product, named “CORE ETP,” is designed to provide investors with a novel way to gain exposure to the Core blockchain network.
Core DAO (CORE) is a Bitcoin-powered layer-1 solution that integrates both proof-of-work and delegated proof-of-stake consensus mechanisms. The Core Foundation, in a press release obtained by crypto.news, emphasized the strategic significance of this launch. Rich Rines, a founding contributor to CoreDAO, highlighted the ETP's potential as a "valuable contribution" to the project. He pointed out that this launch allows institutions and traditional finance participants access to the native CORE token, broadening the scope of investment opportunities.
Founded in 2022, Core is focused on offering EMV-compatible services, which include non-custodial Bitcoin staking and yield-bearing Bitcoin ETPs. This initiative marks a significant milestone in Core DAO's mission to enhance Bitcoin's scalability and utility.
The debut of the CORE ETP on the Spotlight Stock Exchange comes at a time when DeFi Technologies is under scrutiny. Just a week prior, the company refuted allegations of stock manipulation and unfounded growth claims made by CoinSnacks, a cryptocurrency newsletter. These allegations questioned the legitimacy of DeFi Technologies' impressive 3,400% stock surge over the past year.
In summary, the introduction of the CORE ETP by Valour on the Swedish stock exchange represents a major step forward for Core DAO and DeFi Technologies. It not only provides a new investment avenue but also signifies a broader acceptance and integration of blockchain-based financial products in traditional markets.
