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Bitcoin-powered Core DAO debuts its own ETP on Swiss stock exchange

DeFi Technologies’ subsidiary Valour has unveiled the first exchange-traded product for Core DAO, a Bitcoin scaling solution.

Switzerland-based financial firm Valour has introduced its first exchange-traded product (ETP) for Core DAO (CORE), a Bitcoin-powered layer-1 solution integrating proof-of-work and delegated proof-of-stake consensus mechanisms.

In a press release seen by crypto.news, the Core Foundation said the new product called “CORE ETP” will be available on the Spotlight Stock Exchange as part of the organization’s efforts to offer investors “a new way to get exposure to the Core blockchain network.”

Rich Rines, the founding contributor to CoreDAO, said the launch of the ETP marks a “valuable contribution” to the project, adding that institutions and other participants in traditional finance can now have access to native CORE token. Founded in 2022, Core is a Bitcoin-powered blockchain aimed at offering EMV-compatible services like non-custodial Bitcoin staking and yield bearing Bitcoin ETP.

For DeFi Technologies, the launch comes just a week after the company had to refute allegations of stock manipulation and unfounded growth claims made by CoinSnacks, a cryptocurrency newsletter, which questioned the basis for its stock’s 3,400% surge over the past year.

In a June 18 report, CoinSnacks criticized DeFi Technologies, alleging the firm’s stock gains were driven by “influencer pumps, mentions on CNBC, email campaigns, and endorsements by Pomp [Anthony Pompliano].”

Responding the following day, DeFi Technologies dismissed CoinSnacks’ claims, labeling the report in its press release as “unfounded” and containing “defamatory, selective, inaccurate, incomplete, and misleading statements, speculation, and innuendo.”

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