Investors stateside in both the cryptocurrency and traditional finance worlds are eagerly awaiting a Bitcoin ETF product in the U.S.
But those in Europe looking for an XRP exchange-traded product will have one next month.
DeFi Technologies, Inc. announced last week it will debut a new Ripple XRP ETP on a European exchange. The Canada-based Web 3.0 company will be ready to launch the product in early December.
It will offer the product through its subsidiary, Valour Inc. The blockchain company says the Ripple ETP will cater to the “growing demand among European investors for diverse cryptocurrency exposure.”
A recent report says Valour currently offers a number of innovative blockchain products. That includes Ethereum Zero and Bitcoin Zero, two fully hedged Ether and Bitcoin ETPs, with zero management fees.
“The addition of the XRP ETP is part of Valour’s broader strategy to provide investors with access to a range of digital assets in a regulated format,” the report added.
Ripple price is on the rebound after tumbling from $0.72 to $0.58 the second week in November. The cross-border blockchain network designed for institutional finance saw its XRP tokens rise by 12% in the past 30 days and 36% over the past six months.
The XRP investor community has been waiting on the edge of their seats for months for a resolution of a years-long SEC lawsuit. One XRP analyst recently predicted the Ripple token could achieve a market price of $0.71 to finish the year.