Bitcoin
Bitcoin-Powered Core DAO Debuts Its Own ETP on Swedish Stock Exchange
DeFi Technologies subsidiary Valour has unveiled the first exchange-traded product for Core DAO, a Bitcoin scaling solution.
Switzerland-based financial firm Valor has launched its first exchange-traded product (ETP) for Core DAO (CORE), a BitcoinLayer 1 solution with technology that integrates 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 “CORE ETP” will be available on the Spotlight Stock Exchange as part of the organization’s efforts to offer investors “a new way to gain exposure to the blockchain network Core.”
CoreDAO founding contributor Rich Rines 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 aiming to offer EMV-compliant 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 unsubstantiated growth claims made by cryptocurrency newsletter CoinSnacks, which questioned the basis for its stock’s 3,400% surge over the past year.
On a June 18 ReportCoinSnacks has criticized DeFi Technologies, claiming that the company’s stock gains were driven by “influencer pumps, CNBC mentions, email campaigns, and Pompeo endorsements.” [Anthony Pompliano].”
Responding the next day, DeFi Technologies fired CoinSnacks claims, labeling the report in its press release as “baseless” and containing “defamatory, selective, inaccurate, incomplete, and misleading statements, speculation, and innuendo.”