BREAKING: Tech Giant Commences Ripple (XRP) ETP to Tackle Billion-Dollar Market in Europe – Can it Push XRP Price to $1?

• Valour has announced the launch of BNB and XRP ETP as part of its plans to expand its offering while providing direct exposure to investors. 

• Valour has had its Asset Under Management (AUM) increase from C$497 million to C$590 million. 

A leading issuer of Exchange Traded Products (ETP) Valour Inc, which also doubles as a subsidiary of crypto native technology company, DeFi Technologies Inc, has announced the launch of Ripple (XRP) and Binance (BNB) ETPs.

According to the report, trading commenced on February 21, 2024. Valour’s decision is said to have been influenced by the urge to ensure that investors gain exposure to both XRP and BNB through the bank or broker securely and simply. 

XRP has a market cap of $29,477,361,609 as of press time and has existed as a pioneer of cross-border payments with low cost and fast money transfer facilitation. Over the years, it has been embraced by financial institutions with several partnership agreements. With a market cap of $54.64 Billion, BNB has been a primary token for fee payment on the Binance exchange. 

What This Expansion Means to Valour

Speaking on the addition of these two assets to its offering, Olivier Roussy Newton, CEO of DeFi Technologies explained that this is a move to democratize finance and provide clients with diversified opportunities. 

The introduction of the Ripple (XRP) and Binance (BNB) ETPs by Valour marks a significant expansion of our product offerings. These products underscore our commitment to making digital asset investment accessible and seamless for investors across Europe. This initiative goes beyond merely expanding our product line; it represents a strategic move towards democratizing finance and providing our clients with diversified investment opportunities in the world’s leading cryptocurrencies, amidst the evolving digital asset landscape.

Valour is known for its multiple digital asset platforms including 1Valour Ethereum Physical Staking ETP and 1Valour Bitcoin Physical Carbon Neutral ETP. Interestingly, its offerings transcend this as it also provides fully hedged digital asset ETPs with low to zero fees. Its existing products include Valour Uniswap (UNI), Polkadot (DOT), Cardano (ADA), Cosmos (ATOM), Solana (SOL), Avalanche (AVAX), etc. 

Johanna Belitz, Valour Head of Nordics commented on the latest product addition.

We’re thrilled to announce the arrival of Valour BNB and Valour XRP to the vibrant investor community in the Nordics. With these additions, we proudly claim the title of the most comprehensive provider of crypto ETPs listed in the Nordics, presenting options both as singular assets and bundled within our VDAB10 product. This places us in a unique position to accommodate investors keen on navigating the cryptoverse conveniently, securely, and with ease.

XRP Still Down, BNB Price Reacts Marginally

Valour is also reported to have recorded a new Asset Under Management (AUM) of C$590 million from the previously announced amount of C$497 million. In percentage-wise, this represents an 18.7% growth, indicating an increase in investors’ confidence in its products. 

Some analysts expect this announcement to be a key catalyst to drive XRP to $1 when all other factors are considered equal. The asset is currently trading at $0.540634 after declining by 0.6% in the last 24 hours. In addition to that, market sentiment looks bearish with a score of 31/100.

BNB has, however, recorded a marginal growth in the last 24 hours with a 0.68% surge to trade at $380.15. Unlike XRP, BNB has a neutral market sentiment with a 62.65% price growth in the past three months.