DeFi
Core DAO, powered by Bitcoin, launches its own ETP on the Swiss stock exchange
Valor, a subsidiary of DeFi Technologies, unveiled the first exchange-traded product for Core DAO, a Bitcoin scaling solution.
Swiss financial firm Valour has launched its first exchange-traded product (ETP) for Core DAO (CORE), a Bitcoin– layer 1 solution powered by algorithms integrating 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 the “CORE ETP” will be available on the Spotlight exchange as part of the organization’s efforts to offer investors “a new way to gain exposure to the Core blockchain network.”
Rich Rines, CoreDAO’s founding contributor, 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 aimed at offering EMV-compatible services such as non-custodial Bitcoin staking and yield-bearing Bitcoin ETPs.
For DeFi Technologies, the launch comes just a week after the company had to refute allegations of stock manipulation and unfounded growth claims made by CoinSnacks, a cryptocurrency newsletter, which questioned the basis for its shares’ 3,400% rise over the past year.
In a Report of June 18CoinSnacks criticized DeFi Technologies, alleging that the company’s stock gains were driven by “influencer pumps, mentions on CNBC, email campaigns, and Pomp endorsements.” [Anthony Pompliano].”
In response the next day, DeFi Technologies rejected CoinSnacks’ claims, calling the report in its press release “baseless” and containing “defamatory, selective, inaccurate, incomplete and misleading statements, speculation and insinuations.”