A new report has shown that XRP now commands a significant share in the crypto-based offering of Valour Inc., a widely recognized issuer of exchange-traded products (ETPs) in the European market.
XRP Weight in Valour’s Digital Asset Basket
Per information from Valour’s official website, the prominent firm has adjusted the composition of its Digital Asset Basket 10 index “VDAB10.”
For context, VDAB10 monitors the performance of the top ten most significant crypto assets by market capitalization. This basket structure, under the base currency Euro, offers investors diversified exposure to the cryptocurrencies in question.
Following Valour’s rebalancing of VDAB10, XRP now weighs 10.23% of the composition. Meanwhile, most other altcoins, such as Solana (SOL), Cardano (ADA), Tron (TRX), Toncoin (TON), and Polkadot (DOT), hold weights below 5%.
The only digital assets ranking above XRP are the market bigwigs Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB). BTC and Ethereum hold Valour’s maximum weight ratio of 30%. On the other hand, BNB was merely 1.48% above XRP, at 11.71%.
Notably, Valour performs the rebalancing quarterly and assigns a maximum cap of 30% to each underlying asset. Where a constituent surpasses 30%, its weight is adjusted down to the maximum, and the excess weight is redistributed proportionally across all other index components.
XRP Army Reacts.
The news of XRP’s weight in Valour’s DAB10 has sparked bullish comments from prominent XRP figures in the crypto community. XRP influencer Crypto Eri highlighted the development in a recent post on X, adding the remark “bullish timing.”
?Getting Very Close.@ValourFunds recently rebalanced their Digital Asset Basket of TOP 10 with #XRP weighted 10.23%
?On Nov 23, they announced plans to launch the new #XRP Traded FUND physically backed 1:1 with $XRP in early December.
?BULLISH timing.… pic.twitter.com/1nuiggO6GG
— ?Crypto Eri ?Carpe Diem (@sentosumosaba) December 4, 2023
Similarly, pro-XRP YouTuber Moon Lambo reacted to Crypto Eri’s update, stating:
“I think that’s the highest percentage I’ve ever seen allocated to XRP by any crypto fund basket.”
It is worth mentioning that Valour is scheduled to launch an XRP ETP this month. As The Crypto Basic reported, the move is to empower investors to gain exposure to XRP through their respective brokerage services or banks.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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