- The Valour Cardano SEK ETP launched on the Nordic Growth Market Tuesday under the code CH111478796.
- The Valour Polkadot SEK (CH1114178770) is to follow later this month, according to an announcement Tuesday.
- The products are fully backed by ADA and DOT purchased by Valour, a Zug-based subsidiary of Canadian decentralized finance (DeFi) asset manager DeFi Technologies.
- The launches follow similar products by fellow Swiss digital asset manager 21Shares, which launched its DOT product in February and ADA equivalent in April, both on the Swiss SIX exchange.
Valour Structured Products Inc said it has launched its Cardano ETP on the Nordic Growth Market in Sweden, with the Polkadot ETP scheduled to launch on the exchange later this month.
The growing popularity of alternative cryptocurrencies has taken another step forward after a Swiss digital asset firm launched two exchange-traded products (ETPs) tracking two of the most popular altcoins, Cardano and Polkadot.
On Tuesday, Valour Structured Products Inc said it has launched its Cardano ETP on the Nordic Growth Market in Sweden, while the Polkadot ETP is scheduled to launch on the exchange later this month. The new ETPs will be backed by Cardano and Polkadot purchased by Valour.
Both of the altcoins have risen to prominence in recent months alongside steep jumps in value, with the price of Cardano having increased by 1,117% so far this year while Polkadot has risen 375%.
The launch of altcoin ETPs follows a similar trend for more established cryptocurrencies such as Bitcoin, Ethereum and Litecoin, all of which have at least one ETP on European exchanges as investors increasingly search for ways to play the crypto market through traditional financial products.