Bitcoin
Bitcoin-Powered Core DAO Debuts Its Own ETP on Swedish Stock Exchange
DeFi Technologies subsidiary Valor has unveiled the first exchange-traded product for Core DAO, a Bitcoin scaling solution.
Switzerland-based financial firm Valor has launched its first exchange-traded product (ETP) for Core DAO (CORE), a Bitcoin– Layer 1 solution supporting integration of proof-of-work and delegated proof-of-stake consensus mechanisms.
In a press release seen by crypto.news, the Core Foundation said the new product called “CORE ETP” will be available on the Spotlight Stock Exchange as part of the organization’s efforts to offer investors “a new way to gain exposure to the blockchain network Core.”
Rich Rines, the founding contributor of CoreDAO, said the launch of the ETP marks a “valuable contribution” to the project, adding that institutions and other participants in traditional finance can now have access to the native CORE token. Founded in 2022, Core is a Bitcoin-powered blockchain aiming to offer EMV-compliant services such as non-custodial Bitcoin staking and yield-bearing Bitcoin ETP.
For DeFi Technologies, the launch comes just a week after the company refuted allegations of stock manipulation and unfounded growth claims made by cryptocurrency newsletter CoinSnacks, which questioned the basis for its stock’s 3,400% surge last year.
On a June 18 ReportCoinSnacks criticized DeFi Technologies, claiming the company’s stock gains were driven by “influencer bombshells, CNBC mentions, email campaigns and Pomp endorsements.” [Anthony Pompliano].”
Responding the next day, DeFi Technologies fired CoinSnacks claims, labeling the report in its press release as “baseless” and containing “defamatory, selective, inaccurate, incomplete and misleading statements, speculations and insinuations”.