XRP ETP Trading Starts on Swedish Stock Exchange

Prominent European digital asset manager Valour has finally introduced an XRP exchange-traded product (ETP), listing it on the Nordic Growth Market exchange based in Sweden.

Valour announced this development through a press statement on Thursday via its official website. Per the statement, Valour has listed two new crypto-based ETPs on the Nordic Growth Market exchange, featuring XRP and Binance (BNB).

????We are proud to announce two additions to our product range at @ngmexchange : Valour Ripple (XRP) SEK (ISIN: CH1161139584) and Valour Binance SEK (ISIN: CH1149139698), available for trading through @avanzabank and @NordnetSE

Read full pressrelease ????https://t.co/cfnMgf9uDS…

— Valour (@ValourFunds) February 22, 2024

Notably, this development came a few months after Valour, a subsidiary of DeFi Technologies, first disclosed an intention to welcome an XRP ETP.

XRP ETP Commenced Trading

Also, the notification disclosed that the newly listed XRP ETP, Valour Ripple (XRP) SEK, commenced trading on February 21, 2024.

The company highlighted that the Valour Ripple (XRP) SEK ETP (ISIN: CH1161139584) would allow investors to access exposure to XRP easily and securely through their bank or broker.

Furthermore, Valour emphasized that XRP holds a market capitalization of $29.57 billion, securing its position as the sixth-largest cryptocurrency worldwide. The company underscored XRP’s pivotal role in facilitating fast, cost-effective intercontinental money transfers.

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Moreover, Valour highlighted XRP’s function as a bridge asset within Ripple’s payment network, enabling smooth currency exchanges on a global scale. 

Given its widespread utility, Valour noted that XRP has emerged as a preferred option for financial establishments seeking efficient alternatives to conventional cross-border payment mechanisms.

In parallel, Valour remarked that BNB wields a market valuation of $54.64 billion, ranking as the fourth most prominent cryptocurrency.

Also, the company highlighted BNB’s role in facilitating trading fee payments on the largest crypto trading platform, Binance, which has spurred considerable growth interest over the years.

Top Executives React

Reacting to this new addition, Olivier Roussy Newton, CEO of DeFi Technologies, remarked:

“Valour has recently added Ripple (XRP) and Binance (BNB) exchange-traded products (ETPs) to its line of investment offerings. This move is a significant development in the company’s mission to provide easy and accessible investment options for digital assets, making it simpler for investors across Europe to invest in these cryptocurrencies.”

Furthermore, the CEO expressed that the endeavor transcends mere product expansion, noting that it signifies a strategic step toward democratizing finance.

Johanna Belitz, who serves as the Head of Nordics at Valour, recently expressed her excitement about the company’s decision to list XRP ETP positions in the Nordics. Belitz believes that this move puts Valour in a unique position to accommodate investors who are interested in navigating the world of cryptocurrencies more conveniently. By adding XRP ETPs to its list of offerings, Valour can proudly claim the title of the most comprehensive provider of crypto ETPs in the Nordics.

Notably, Nordic Growth Markets (NGM) is a prominent stock exchange in the Nordic region, boasting over 30 years of expertise. It facilitates trading over 40,000 instruments, including bonds, equities, and derivatives across Sweden, Finland, Denmark, and Norway.