Valour, the UK-based digital assets subsidiary of DeFi Technologies, has received regulatory approval to offer cryptocurrency products to retail investors on the London Stock Exchange.
In Monday’s announcement, DeFi Technologies he said The UK Financial Conduct Authority (FCA) has approved Valour’s exchange-traded products linked to Bitcoin (BTC) and Ether (ETH) staking. The offerings, called 1Valour Bitcoin Physical Staking and 1Valour Ethereum Physical Staking, launched on Monday on the London Stock Exchange.
“The UK is one of the most important financial markets in the world, and these approvals expand our ability to serve UK retail investors with transparent, exchange-traded products that provide direct exposure to the evolving digital asset economy,” said Johan Wattenström, president and CEO of DeFi Technologies.
The company announced in September that it would list a Bitcoin ETP on the London Stock Exchange, but unlike Monday’s offer to British retail investors, the offer was narrow to professional investors. In October, the FCA lifted the ban on cryptocurrencies for retail investors, prompting offers from asset managers such as Bitwise.
Valor’s move continues the company’s efforts in Brazil, where it listed a Solana-related product (SOL) in December. Cointelegraph reached out to Valor for comment but had not received a response at the time of publication.
Related: Solana lists on Brazil’s main exchange as Valor expands regulated access to cryptocurrencies
According to the London Stock Exchange, over 50 issuers list over 2,300 ETPs. The exchange reportedly recorded around $280 million in cryptocurrency ETP trading volume in December.
The largest outflows in history for ETP cryptocurrencies
On Monday, CoinShares reported that cryptocurrency-related exchange-traded products saw outflows of more than $1.7 billion last week.
The company’s head of research, James Butterfill, attributed the change in inflows from $2.2 billion in the previous week to “diminishing expectations for interest rate cuts, negative price momentum and disappointment that digital assets did not participate in the value-depressing trade.”
The largest asset managers offering cryptocurrency ETPs and exchange-traded funds include Grayscale Investments, Fidelity Investments and BlackRock.
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