Tomiwabold Olajide
Valor Terra and Valor Avalanche ETPs to provide exposure to LUNA and AVAX
According to digital asset ETP issuer Valour, a subsidiary of DeFi Technologies, the trading of two new ETPs, Valor Terra and Avalanche ETPs, has commenced on Sweden-based Nordic Growth Market.
The Valor Terra and Valor Avalanche ETPs will provide exposure to LUNA and AVAX, the native tokens underpinning the Terra and Avalanche blockchains, respectively.
Terra (LUNA) and Avalanche (AVAX) are presently among the top 10 cryptocurrencies in the world by market capitalization, currently valued at $29.6 billion and $19.4 billion, respectively.
Earlier, Valor introduced Cardano and Polkadot exchange-traded products (ETPs) to Frankfurt’s stock exchange, in addition to the existing Bitcoin (BTC), Ethereum (ETH), Uniswap (UNI) and Solana (SOL) offerings.
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Crypto exchange-traded products are gaining ground as, in late December 2021, VanEck, a New York-based investment management firm, announced crypto offerings with two ETNs on Avalanche and Polygon. The ETNs will allow investors to gain exposure to the price of Avalanche (AVAX) and Polygon (MATIC) without having to buy the cryptocurrencies directly.
LUNA, the native token of the Terra protocol—a leading decentralized and open-source public blockchain protocol for algorithmic stablecoins—trades at $78.58 at press time, up 4.56% in the last 24 hours, as per CoinMarketCap data.
In the prior week, Luna Foundation Guard (LFG), a Singapore-based nonprofit, announced that it would create a Bitcoin-denominated reserve as an additional layer of security for UST.
LFG announced on Tuesday that it had raised $1 billion for the reserve through private token sales, with buyers agreeing to lock up the coins for four years. Influential crypto investors Jump Crypto, DeFiance Capital and Three Arrows Capital sponsored the investment round, causing LUNA prices to rise at the time.
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