In a groundbreaking move, DeFi Technologies’ subsidiary Valour Inc. has teamed up with The Hashgraph Association to launch the world’s first Valour Hedera (HBAR) ETP (Exchange Traded Product). The launch took place during the closing bell ceremony at the Frankfurt Stock Exchange on June 18, marking a significant milestone in the cryptocurrency industry.
Global Impact and Market Reaction
The introduction of the HBAR ETP has generated significant global interest, following the trend set by BTC and ETH ETPs. In response to the announcement, Hedera’s (HBAR) price surged by nearly 6%, highlighting the market’s enthusiasm for this new investment vehicle.
Understanding the Hedera (HBAR) ETP
The Valour Hedera (HBAR) ETP was unveiled at Börse Frankfurt, a leading German crypto exchange. This ETP offers investors direct exposure to the HBAR cryptocurrency, providing a simplified and secure way to invest in the future of enterprise blockchain technology.
Elaine Buehler, Product Head at Valour, highlighted the significance of this launch, stating, “This product simplifies the process, enabling investors to participate in the future of enterprise blockchain technology with unprecedented ease and security.”
Stefan Deiss, Co-Founder and Board Director of The Hashgraph Association, expressed his satisfaction with the collaboration, emphasizing the goal of attracting institutional investors to Web3 and offering innovative investment opportunities for portfolio diversification.
HBAR Price Surge
Following the announcement, HBAR’s price increased by 6.10%, reaching $0.08159. The token’s 24-hour low was $0.07359, with a high of $0.08186. This price movement is reminiscent of the substantial rallies seen with Bitcoin ETPs, though Ethereum has yet to experience a similar shift despite ETF approvals.
Future Prospects
The introduction of the HBAR ETP has sparked investor interest and speculation regarding HBAR’s future performance. Although the Relative Strength Index (RSI) hovered near 34, indicating potential downside pressure, entering oversold territory could lead to a stronger price action for HBAR. The ETP launch is expected to attract substantial investment, potentially leading to an optimistic price trend in the near future.
Conclusion
The launch of the world’s first Hedera (HBAR) ETP by Valour Inc. and The Hashgraph Association marks a significant development in the crypto space. This innovative product not only provides a new investment opportunity but also highlights the growing interest in blockchain technology and digital assets.
