World’s First HBAR Crypto ETP Launches, Boosting Token Price
Valour Inc. of DeFi Technologies partnered with The Hashgraph Association to introduce the initial Valour Hedera Exchange Traded Product (ETP) on the Frankfurt Stock Exchange.
This led to an increase in the value of HBAR by 6% in just one day up to $0.08159.
The HBAR ETP allows investors to own HBAR digital currency directly, as well as use Hedera’s blockchain network.
For Valour’s Head of Products, it is like a “gateway” into enterprise blockchain tech while The Hashgraph Association hopes to attract institutional investors into Web3.
Whereas RSI showed that there was a possibility of decline; oversold territory may fuel price momentum for HBAR: On many occasions, the launch of an ETP will bring substantial inflows which can help in creating some positive price action for HBAR.
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This leading ETP release further confirms growing institutional interest in cryptocurrency and blockchain technology services; hence filling a void between orthodox finance schemes and decentralised world of digital assets. It addresses this need by providing regulated investment vehicles enabling traditional investors to get exposure to cryptocurrencies as they trade familiar products on licensed exchanges.
Furthermore, Valour Inc.’s partnership with The Hashgraph Association highlights the significance of collaborations and collective efforts towards promoting innovation within the crypto ecosystem. In so doing, they have facilitated the development of new product not available before in today’s market, possibly opening doors for others alike ones later on.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
