New Fund Tracking Token for Bitcoin Staking Layer 1 Core Launched

A new exchange-traded product (ETP) for CORE, the native token of the Bitcoin layer-1 blockchain Core, is set to launch on Sweden’s Spotlight Stock Exchange, marking a significant development for traditional investors. The ETP, issued by Valour, a Toronto-based digital asset manager and subsidiary of DeFi Technologies, aims to make the Core blockchain network more accessible to a broader range of investors.

The Valour CORE (CORE) ETP will track the price of CORE, providing investors with exposure to the Core blockchain’s native token. Core, powered by Bitcoin, is an L1 blockchain designed for EVM-compatible smart contracts and features a unique consensus mechanism called Satoshi Plus.

According to Rich Rines, an Initial Contributor to Core, the launch of the CORE ETP by Valour is a significant step in enhancing accessibility to CORE, especially for institutions and participants in traditional finance.

Core’s innovative approach to Bitcoin staking sets it apart in the market. Unlike traditional methods that required wrapping Bitcoin or relinquishing custody of assets, Core Chain introduces a non-custodial BTC staking mechanism, allowing BTC holders to earn yield through Core Chain’s consensus mechanism, Satoshi Plus, combining Delegated Proof of Work (DPoW) and Delegated Proof of Stake (DPoS).

This breakthrough has garnered attention, with Core surpassing $200 million in staked Bitcoin recently. The launch of the CORE ETP on the Spotlight Stock Market follows the introduction of the Velour Hedera ETP tracking HBAR on Germany’s Börse Frankfurt, indicating a growing interest in decentralized finance products across European markets.

The Core project aims to unlock over $1.25 trillion in trapped Bitcoin liquidity through its blockchain technology. By staking BTC, holders can earn yield through block rewards and transaction fees from Core’s EVM-Compatible smart contract protocol. Since its mainnet launch in January 2023, Core has seen significant adoption, with over 18 million unique addresses and 256 million transactions processed.

The launch of the CORE ETP and Core’s innovative solutions highlight the growing interest and adoption of blockchain technology and decentralized finance products in traditional markets.