Valour, a Swiss-based creator of investment products, launched the first Bitcoin exchange-traded product (ETP) today and comes with no fees.
Valour was listed on the Stockholm, Sweden-based Nordic Growth Market. It was founded in 2019 by Johan Wattenström.
As stated in its recent announcement, the New ETP, Bitcoin Zero, will enable institutions and individuals to invest in BTC (Bitcoin) in a similar way to ETFs and shares. Trading and owning Bitcoin Zero will not incur management fees but will incur investors’ usual brokerage fees. Bitcoin Zero will be the first of several innovative products Valour plans to bring to market.
CEO and Director Johan Wattenström states that:
“Our mission is to make an investment in disruptive technologies accessible to all. The launch of the Bitcoin Zero ETP is very much a part of this. It marks a significant step towards the mainstream adoption of digital assets, enabling investors to diversify their portfolios and gain exposure to Bitcoin, whose value has almost tripled this year.”
Trading Bitcoin Zero can be done through any broker or financial institution with access to the Nordic Growth Market Stock Exchange.
Deputy CEO of the exchange, Tommy Fransson also said:
“Nordic Growth Market has been a dedicated partner for developing and supporting the ETP market for more than 15 years. We are delighted to welcome Valour and their new, innovative ETPs to NGM. Digital assets are an important part of the future of financial markets, and this is a significant step in making these products available to all investors.”
Nordic Growth Market is a regulated exchange that delivers trading, exchange technology and public company services. It was established in 1984 and operates in Sweden, Finland, Denmark and Norway. It is now a fully owned subsidiary of Börse Stuttgart, one of the leading exchanges in Europe since 2008. It is the only exchange in the world that offers revenue sharing with listed companies.
Exchange-traded products (ETP) can be benchmarked to myriad investments including commodities, currencies, stocks, and bonds. With Bitcoin Zero ETP, the digital asset will be the benchmark.
Bitcoin Zero ETP is another milestone for the cryptocurrency since it will serve as a vehicle for mainstream mass adoption.
In the past few months, there has been a rise in the number of state-level adoption of bitcoin and other digital currencies. Cryptocurrencies are now classified as safe-haven assets. Various institutional investors like Microstrategy have also invested in bitcoin ensuing increased demand.