The mainstream financial world has taken notable strides to include various cryptocurrencies. a new exchange-traded product (ETP) for Polkadot recently surfaced on a mainstream exchange in Sweden.
The Nordic Growth Market now hosts buying and selling for the Polkadot DOT ETP, officially labelled because the “VALOUR POLKADOT SEK,” according to a public statement provided to post in Cointelegraph. The ETP is a product of Valour, a corporation that produces digital currency-based ETPs. the product went live on the exchange on Monday. a company called Defi Technologies is Valour’s parent company.
“This is an exciting time for the Polkadot protocol with the upcoming launch of its Parachain functionality, providing increased scalability and finalizing its core build,” Diana Biggs, Valour’s CEO, said, as quoted within the public statement. “Our launch of Valour Polkadot DOT SEK is a direct response to increased demand from both retail and institutional investors for access to further innovative blockchain protocols via our ETPs.”
An equities market-based in Sweden holding regulatory approval in Sweden, the Nordic Growth Market, also shortened to NGM, serves participants from multiple countries.
Over the years, mainstream entities have paved more traditional roadways for cryptocurrency exposure, like the Chicago Mercantile Exchange’s Bitcoin BTC and Ethereum ETC futures, Grayscale’s Cryptocurrency-based products, and Canadian Bitcoin exchange-traded funds.
Using traditional stock exchange measures, participants can purchase and sell the Polkadot DOT ETP, which is backed by the crypto asset. “For each exchange-traded product of Valour that's bought and sold on the stock market , Valour purchases or sells the equivalent amount of the underlying digital assets, meaning the products are fully backed in the least times,” the statement said of Valour’s ETPs generally.
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