Valour Digital Securities, a subsidiary of DeFi Applied sciences, has launched its Bitcoin Bodily Staking exchange-traded product (ETP) on the London Inventory Alternate, the agency introduced on Friday.
The itemizing expands Valour’s yield-bearing bitcoin product past mainland Europe, the place it has traded since November 2024 on Germany’s Xetra market. The ETP is restricted to skilled and institutional traders underneath present UK rules, with retail entry anticipated to open on October 8 underneath new Monetary Conduct Authority guidelines.
The product, listed underneath ticker 1VBS, is bodily backed 1:1 by bitcoin held in chilly storage with Copper, a regulated custodian. It affords an estimated annual yield of 1.4%, which is distributed by growing the product’s web asset worth (NAV). Yield is generated via a staking course of that makes use of the Core Chain’s Satoshi Plus consensus mechanism.
Rewards earned in CORE tokens are transformed into bitcoin and added to the ETP’s holdings. Valour has emphasised that whereas the method includes short-term lockups throughout stake transactions, the underlying bitcoin isn’t topic to conventional staking dangers reminiscent of slashing.
The launch comes because the UK begins to loosen restrictions on crypto-linked funding merchandise. Earlier this yr, the Monetary Conduct Authority moved towards permitting retail entry to sure crypto exchange-traded notes and merchandise, a shift that may take a look at demand for regulated, yield-bearing bitcoin publicity.
