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.
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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.
