DeFi Technologies, a pioneering force in the cryptocurrency realm, has revealed the ambitious initiative of its subsidiary, Valour, to introduce the XRP Exchange-Traded Product (ETP) to the European market next month. This strategic move not only signifies a substantial expansion of product offerings but also strategically caters to the growing demand for crypto asset investments in Europe.
The upcoming XRP ETP aims to offer investors a secure and straightforward channel to access XRP, a pivotal player in the cryptocurrency market, directly through their bank or broker.
XRP Takes Center Stage
With a current market cap of $32.7 billion, XRP proudly holds the fifth position among all global digital assets. Recognized for its role as a bridge facilitating swift and cost-effective international money transfers within Ripple’s ecosystem, XRP is the preferred choice for financial institutions seeking efficient alternatives to traditional cross-border payment methods.
related: Bitstamp and European Banks Partner to Offer Crypto Services
The imminent launch of Valour’s XRP ETP adds an exciting dimension to the continually expanding market for exchange-traded products linked to XRP. Existing solutions from prominent players such as CoinShares, 21Shares, and ETC Group have already played a significant role in boosting the popularity of investment products focused on XRP.
| Category | Figures |
|---|---|
| Market Cap | $32.7 billion |
| XRP ETP Inflows (2023) | $13 million |
| AUM (XRP ETPs) | $68 million |
| Global Rank (XRP) | 5th |
| Launch Date | December 2023 |
In the ongoing year of 2023, XRP ETPs have witnessed notable traction, attracting $13 million in inflows and amassing an impressive $68 million in assets under management. This places XRP ETPs as the second-highest in assets among altcoin-oriented ETPs, trailing only behind Solana (SOLUSD).