The Hashgraph Association and DeFi firm Valour Inc. grabbed the attention of crypto investors with their latest partnership.
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The duo has joined forces to introduce the first Valour Hedera exchange-traded product (ETP), launched on 18 June in the Frankfurt Stock Exchange (FSX) at the closing bell ceremony.
According to the press release,
This new product underscores Valour’s commitment to expanding its portfolio of ETPs and enhancing market accessibility for digital assets on traditional exchanges.
The development gained massive traction within no time, as Hedera seemingly followed strides of Bitcoin ETFs, launched early in 2024.
The headline saw HBAR recording bullish price moves over the past day.
The new HBAR ETP
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The world’s first Hedera ETP aims to offer modern investors direct exposure to altcoin HBAR.
The offering also helps Valour Inc. cement its universal footprint in the crypto ETP marketplace.
Valour Europe’s Head of Product Elaine Buehler commented,
As we launch the world’s first Hedera (HBAR) ETP, we’re not just offering an investment product, we’re providing a gateway for investors to easily access and leverage the robust capabilities of the Hedera network.
She added that the HBAR exchange-traded product allows interested individuals to explore enterprise blockchain tech with heightened security and unparalleled ease.
Meanwhile, Hashgraph Association co-founder Stefan Deiss stated that the latest achievement matches the firm’s goal to allow institutional investors access to Web3.
Moreover, the product will enable institutions to invest in bankable cryptos for portfolio diversification.
He remarked,
Investors are able to enter the digital assets realm through this structured and regulatory compliant ETP offered by Valour.
In an exclusive conversation with Invezz, Hedera’s president Charles Adkins stated that the project will attain more adoptions in 2024.
He emphasized that individuals would be using the underlying HBAR technology “without even knowing it” in the coming five years.
HBAR’s current price action
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The exchange-traded product revelations saw Hedera Hashgraph’s native coin recovering from yesterday’s slump.
HBAR reacted to the latest news with a nearly 7% surge past $0.08186 before a slight dip to the press time value of $0.08056.
The HBAR ETP introduction represents a crucial step within the crypto world, offering individuals and institutions lucrative investment opportunities.
Market experts believe the exchange-traded product on the Hedera blockchain might attract massive inflows, translating to impressive performance for HBAR.
Enthusiasts will likely watch how the new product will influence Hedera’s growth and price actions in the upcoming sessions.
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