Swiss digital asset issuer Valour has expanded its exchange-traded product (ETP) suite with the launch of a solana ETP.
The Valour Solana (SOL) SEK ETP is set to list on the Nordic Growth Market stock exchange on 16 September with a total expense ratio (TER) of 1.9%.
The ETP will track the performance of the crypto asset, the seventh largest blockchain-backed cryptocurrency, with a market cap of $50.2bn, as of 14 September.
Valour said investors will be able to gain exposure to the native cryptocurrency in solana’s ecosystem via their bank or broker, as the issuer seeks to make digital assets more accessible via mainstream channels.
The coin is an open-source project that uses blockchain technology and a proof-of-history consensus to provide decentralised finance solutions.
Initially launched in Geneva in March 2020, a key selling point for solana is its short processing times for transactions and smart contract executions.
Dianna Biggs, CEO of Valour, commented: “We have seen tremendous interest in the solana ecosystem and this product is testament to the team’s ability to rapidly respond to that demand, not only by bringing innovative products to market but the most cost-effective for investors.”
“This is yet another major step for Valour and our parent company Defi Technologies as we continue to create crypto products.”
In May, Valour followed its rivals by launching the Valour Cardano SEK ETP and the Valour Polkadot SEK ETP.
It follows the launch of the first ever solana ETP by 21Shares in June which listed on the SIX Swiss Exchange and Stuttgart and Dusseldorf multilateral trading facilities.
Earlier this month, Valour hired Frances Edwards as its chief operating officer from BlackRock as the firm, which launched in December 2020, looks to expand beyond Nordics and into additional European markets.