Having registered a solid performance this year, altcoins like Cardano (ADA) and Polkadot (DOT) are now falling on the institutional radar. Valour Structured Products, a subsidiary of Defi Technologies, announced that it will launch exchange-traded products (ETPs) for Both Cardano and Polkadot.
Later today, May 18, the Valour Cardano (ADA) SEK will go live for trading on the Nordic Growth Market (NGM) stock exchange. Later this month, Valour’s Polkadot ETP – Valour Polkadot (DOT) SEK – will also go live on the exchange. Both these products will provide institutions the exposure to these cryptocurrencies without actually buying them directly but instead purchasing shares of the ETPs through banks or brokers.
Both these ETPs are fully-hedged passive investment products with Cardano and Polkadot being their underlying assets. Speaking about the launch, Valour CEO Diana Biggs said:
“Following the success of our Bitcoin and Ethereum ETPs, we’ve had growing investor demand for further digital asset products. With the increasing development and understanding of these technologies, we’re thrilled to bring investors the most cost-effective and secure way to access investment in innovative protocols like Cardano and Polkadot.”
The Rise of Cardano (ADA) and Polkadot (DOT)
Backed by a solid technological prowess, both these altcoins have seen sharp rallies in 2021. Cardano (ADA) the proof-of-stake open-source blockchain platform that offers unmatched scalability and programmability challenging the likes of giants like Ethereum (ETH).
Over the last weekend, Cardano’s native crypto ADA surged to an all-time high of $2.56 thereby becoming the fourth-largest cryptocurrency by market cap. While almost every cryptocurrency is negative on the weekly charts, Cardano’s ADA is showing a staggering 30% gains. Its year-to-date gains are a staggering 1100%.
On the other end, Polkadot (DOT) has gained much fame because of offering scalable and interoperable solutions with multiple blockchains. This Web3 Foundation-funded open-source protocol offers three essential functions of staking, governance, and parachains.
Polkadot’s DOT is the eighth largest crypto with a market cap of $28 billion. DOT’s year-to-date gains stand at a staggering 1300%. Well, it is difficult for big players to miss on such strongly performing cryptocurrencies.
The post Institutional-Grade Exchange Traded Products For Cardano (ADA) and Polkadot (DOT) Coming Soon appeared first on Coingape.
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