Markets
What to know:
- Valour, a sprightly unit of DeFi Technologies, has unleashed its bitcoin staking exchange-traded product upon the venerable London Stock Exchange, a move as audacious as a chess grandmaster’s gambit. ♟️
- This financial confection promises a 1.4% annual yield, a modest bauble backed 1:1 by bitcoin, safely ensconced in Copper’s custody. A treasure chest, albeit a modest one. 🏦
- Alas, the plebeian retail investor must wait until Oct. 8 to partake, as the FCA, in its infinite wisdom, has decreed that only professional and institutional connoisseurs may indulge for now. 🎩
Behold, Valour Digital Securities, a subsidiary of the enigmatic DeFi Technologies (DEFT), has birthed its bitcoin staking exchange-traded product (ETP) upon the hallowed grounds of the London Stock Exchange. A product, mind you, that has already been frolicking on Deutsche Börse’s Xetra platform since Nov. 5, 2024, like a precocious enfant terrible of the financial world. 🌍
The 1Valour Bitcoin Physical Staking (1VBS) product, a siren’s call to professional and institutional investors, dangles the carrot of a 1.4% annual staking yield, a pittance perhaps, but a pittance with pedigree. Each share, a pristine 1:1 reflection of bitcoin, slumbers in cold storage, guarded by the vigilant Copper. The yield, a mere whisper, is added to the net asset value (NAV), a daily ritual of financial alchemy. 📈
Yet, as the curtain rises on this financial drama, shares of DeFi Technologies tumble 3.12% to $2.63 in the early Nasdaq ballet, a reminder that even the most gilded of ventures is not immune to the whims of the market. 💃
For now, the London-listed ETP remains the exclusive domain of professional investors, a velvet rope affair. But fear not, dear retail investor, for the FCA has decreed that Oct. 8 shall be your day of reckoning, when crypto exchange-traded notes (ETNs) shall be within your grasp on recognized investment exchanges like the LSE. Patience, as they say, is a virtue. ⏳
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2025-09-19 18:43