Arcade Crypto, in collaboration with Valour Structured Products, Swiss-based exchange-traded product (ETP) issuer and a subsidiary of DeFi Technologies, to list the first cryptocurrency fund-based ETP
Arcane Plans to List Crypto Fund-Based ETP
In a press release by Arcane Crypto on Wednesday (June 16, 2021), the company announced that Arcane Assets, its wholly owned subsidiary, signed a “Letter of Intent” with Valour to list an ETP. The proposed ETP will be based on its cryptocurrency fund, and stating that it would be the first of such ETP with a crypto fund as underlying asset.
Arcane Crypto, based in Stockholm, Sweden, invests in projects that are focused on bitcoin and digital assets. According to the company, the latest development follows the company objectives.
Commenting on the partnership was Valour CEO, Diana Biggs, who said:
“We are delighted to be partnering with Arcane to launch the world’s first fund-based crypto ETP. Arcane Assets bring unparalleled knowledge of cryptocurrencies boh from a technology and an investment perspective, rightly placing them as one of the most well-respected hedge funds in this space, and this product partnership is a key milestone in our ongoing mission to provide investors of all types with access to the most innovative and highest quality digital asset ETPs.”
Meanwhile, the announcement noted that both companies are working towards solidifying the terms of their agreement, along with issuing the ETP later in 2021.
The CEO of Arcane Crypto, Torbjørn Bull Jenssen, also said that the new product would enable easier entry for investors looking to explore the cryptocurrency market. In Jenssen’s words:
“Valour has successfully launched several ETPs tracking cryptocurrencies in the past and is an ideal partner for us. By joining forces, our intention is to bring a truly new and innovative product to market, lowering the frictions associated with cryptocurrency investments.”
More companies continue to launch ETPs to respond to the rising interest of institutional investors in cryptocurrency. As reported earlier in June, major European digital assets investment platform CoinShares, listed three physically-backed crypto ETPs on Germany’s Börse Xetra. Iconic Funds also listed a physically-backed Bitcoin ETP on the same exchange.