In an attention-grabbing development in the world of cryptocurrency,
DeFi Technologies subsidiary Valour Inc. has collaborated with the Hashgraph Association to launch Valor Hedera The world's first ETP (Exchange Traded Product).
The launch of the HBAR ETP was announced at the closing ceremony at the Frankfurt Stock Exchange on June 18, 2024.
Hedera (HBAR) ETP: What to Know?
Launched at a closing ceremony at Börse Frankfurt, a crypto exchange in Germany, the Valor Hedera (HBAR) ETP offers investors direct exposure to the HBAR cryptocurrency.
Valour Inc., a leading player in the digital asset ETP space , further strengthens its position with this offering.
Elaine Buehler, Head of Product at Valour, emphasized that the launch of the world's first HBAR ETP not only offers an investment opportunity but also serves as a 'gateway' for investors to access and utilize Hedera's network functionality.
“This product simplifies the process, allowing investors to participate in the future of enterprise blockchain technology with unprecedented ease and security,” he added.
Meanwhile, Stefan Deiss, Co-Founder & amp ; The Board Director of the Hashgraph Association, stated that his company is pleased to collaborate with Valor to launch the world's first HBAR ETP.
"This achievement is in line with our goal to bring institutional investors to Web3 and enable them to invest in digital assets that can be invested as innovative and alternative investments for portfolio diversification," said Stefan.
HBAR Price Surge
After this news appeared, HBAR price rose 3.58% in the last 24 hours. The highest and lowest 24-hour HBAR token values are $0.082 and $0.077 respectively.
As seen earlier, the launch of Bitcoin ETP brought a substantial price spike for this major cryptocurrency after its launch. However, Ethereum has not experienced a paradigmatic price shift despite ETP approval. This has led to investor speculation regarding the future of HBAR even though the ETP has been launched.
In addition, citing a Coingape report (19/6/24), HBAR's RSI (Relative Strength Index) is around 34, which indicates downward pressure on this asset.
However, if HBAR enters oversold territory , amplified price action may occur. The launch of an ETP could bring substantial funds into the ecosystem, paving the way for possible optimistic price increases going forward.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.