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Markets  + Crypto  + Crypto  + ETFs  | 

Valour, Core Foundation Collaborate on Yield Bearing BTC ETP

DeFi Technologies Inc., a fintech company, announced that its subsidiary, Valour and Valour Digital Securities, an issuer of exchange traded products (ETPs) that provide access to digital assets, has entered a collaboration with the Core Foundation, an organization dedicated to the development of the Core blockchain network.

This collaboration is set to develop ETPs that leverage Core Chain’s blockchain capabilities, introducing a “first-of-its-kind” yield bearing BTC ETP and a Core ETP. Valour and DeFi Technologies are reportedly going to contribute approximately $200 million to the fund and investors will be able to start buying the ETP shortly.

Core Chain is a bitcoin-powered, Ethereum Virtual Machine (EVM)-compatible blockchain that incorporates Bitcoin miners and BTC stakers into its security in exchange for rewards.

The aim is to “redefine” Bitcoin’s utility as an investment opportunity within the digital asset ecosystem, granting BTC native yield through non-custodial BTC staking, the firm said.

Valour additionally plans to stake $100 million in BTC with Core Chain.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.