Valour, a subsidiary of DeFi Technologies, has introduced the first exchange-traded product (ETP) for Core DAO on the Spotlight Stock Exchange in Switzerland. Core DAO is a Bitcoin-powered layer-1 solution that integrates proof-of-work and delegated proof-of-stake consensus mechanisms.
In a press release, the Core Foundation announced that the new product, named “CORE ETP,” will provide investors with a new way to gain exposure to the Core blockchain network. This move aims to bridge traditional finance and the cryptocurrency world, offering a unique investment opportunity.
Rich Rines, a founding contributor to Core DAO, highlighted the significance of the ETP launch. He stated that it marks a valuable contribution to the project, allowing institutions and other traditional finance participants to access the native CORE token. Core, founded in 2022, is designed to offer EMV-compatible services like non-custodial Bitcoin staking and yield-bearing Bitcoin ETP.
The launch of the CORE ETP comes amid recent controversy surrounding DeFi Technologies. Just a week prior, the company had to address allegations of stock manipulation and unfounded growth claims made by CoinSnacks, a cryptocurrency newsletter. CoinSnacks questioned the basis for DeFi Technologies’ stock’s 3,400% surge over the past year, attributing it to influencer pumps, mentions on CNBC, email campaigns, and endorsements by Anthony Pompliano.
DeFi Technologies responded to these claims in a press release, dismissing the report as “unfounded” and containing “defamatory, selective, inaccurate, incomplete, and misleading statements, speculation, and innuendo.” The company aims to maintain transparency and credibility in its operations and continues to focus on its growth and innovation in the DeFi space.
The introduction of the CORE ETP is expected to attract more investors to the Core blockchain network. It reflects the growing interest in Bitcoin-powered solutions and the integration of traditional finance with cryptocurrency.
