Valour’s Cardano and Polkadot launches follow similar launches by 21Shares earlier in the year
Swiss digital asset firm Valour has followed rivals in launching cardano and polkadot exchange-traded products (ETPs).
The Valour Cardano SEK ETP launched on the Nordic Growth Market on Tuesday while the Valour Polkadot SEK ETP is set to list later in the month.
The products will track the performance of their respected crypto assets and are backed by ADA and DOT purchased by Valour, a Zurich-based subsidiary of Canadian decentralised finance asset manager, DeFi Technologies.
Cardano is a block-chain backed platform that allows developers to construct decentralised applications and conduct peer-to-peer transactions via its native token, ADA. The platform uses a proof-of-stake algorithm called Ouroboros to produce new blocks and settle transactions. ADA is now the fourth-largest crypto asset by market cap.
Polkadot is a blockchain protocol which allows different blockchains to operate with one-another to share security features and transfer assets among themselves. Polkadot’s native token, DOT, provides governance for the network, operates the network via staking and supports the creation of parachains, which are the specialised blockchains that connect to Polkadot.
The launches of Valour’s strategies follow similar launches by 21Shares, which debuted the 21Shares Polkadot ETP (ADOT) and the 21Shares Cardano ADA ETP (AADA) on the SIX Swiss Exchange in February and April, respectively.