DeFi Technologies Inc. (NEO: DEFI) announced today that its wholly-owned subsidiary, Valour Structured Products, signed a letter of intent with Arcane Crypto to explore launching an exchange-traded product based on Arcane’s cryptocurrency fund. This sets the ETP to be the first to have a cryptocurrency fund as an underlying asset.
The company relayed that a fund-based crypto ETP will work as a regular ETP. Investors would be able to trade it through their brokers, which would track the performance of Acrane’s cryptocurrency fund.
Valour issues exchange-listed financial products and ETPs which are listed on European stock exchanges.
The two firms are still working on a partnership agreement and plan for the ETP issuance. The partnership expects to complete the transaction later this year.
DeFi Technologies last traded at $1.28 on the NEO.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
This news is republished from another source. You can check the original article here.
Be the first to comment