Valour Digital Securities, a subsidiary of DeFi Technologies, has launched its new bitcoin staking exchange-traded product (ETP) on the London Stock Exchange. This marks a significant expansion for a product that originally commenced trading in Germany almost a year ago. The 1Valour Bitcoin Physical Staking (1VBS) product is designed to provide professional and institutional investors with direct exposure to bitcoin, complemented by an annual staking yield of 1.4%.
Since its introduction on Deutsche Börse’s Xetra platform on November 5, 2024, the 1VBS has made its way onto multiple European exchanges. Each share of the product is underpinned by a one-to-one backing of bitcoin, which is secured in cold storage by Copper. The annual yield generated from staking is factored into the net asset value (NAV) of the shares, which is updated daily alongside entitlements and indicative prices.
However, early trading figures for DeFi Technologies showed a 3.12% drop in share value, bringing it down to $2.63 in the Nasdaq.
Under current regulations in the U.K., access to the newly launched London-listed ETP is restricted to professional investors. Retail investors, however, will gain access to cryptocurrency exchange-traded notes (ETNs) on recognized investment exchanges such as the LSE beginning October 8, as stipulated by the Financial Conduct Authority. This move is anticipated to broaden the investment landscape in cryptocurrency for a wider audience in the U.K.
