DeFi Technologies, at the forefront of crypto innovation, has disclosed its subsidiary, Valour's, bold initiative to unveil the XRP ETP on the European market next month. This move not only denotes a substantial diversification of product offerings but also strategically addresses the surging appetite for crypto asset investments within Europe.
The impending XRP ETP is poised to provide investors with a straightforward and secure avenue to access XRP, the linchpin of the crypto market, directly through their bank or broker.
XRP goes mainstream
Currently commanding a market cap of $32.7 billion, XRP proudly secured fifth place among all digital assets worldwide. Renowned for its role as a bridge in facilitating swift and cost-effective international money transfers within Ripple's ecosystem, XRP stands as the desired choice for financial institutions seeking efficient alternatives to traditional cross-border payment methods.
The imminent introduction of Valour's XRP ETP adds an exciting dimension to the continually expanding market for exchange-traded products linked to XRP. Existing solutions from the likes of CoinShares, 21Shares and ETC Group have already contributed significantly to the growing popularity of XRP-focused investment products.
In the ongoing year of 2023, XRP ETPs have attracted a noteworthy $13 million in inflows, accumulating an impressive $68 million in assets under management — the second highest among altcoin-oriented ETPs, trailing only behind Solana (SOL).