Bitcoin Core Layer 1 Fund Launched to Track Token Movement

CoinDesk Report:
The first exchange-traded product (ETP) for CORE, the native token of Bitcoin’s Layer 1 blockchain, is set to launch on the Spotlight Stock Exchange in Sweden.
Issued by Valour, a Toronto-based firm, this new fund marks an important step in making the core blockchain network more accessible to traditional investors. Valour is a subsidiary of DeFi Technologies, a Canadian-listed digital asset management company.
The Valour CORE (CORE) ETP will track the price of CORE, providing investors with exposure to the native token of the CORE blockchain. Core is a Bitcoin-driven L1 designed for EVM-compatible smart contracts, utilizing a unique consensus mechanism called Satoshi Plus.
Rich Rines, an initial contributor to CORE, stated, “The launch of the CORE ETP by Valour is a valuable contribution to the accessibility of CORE, especially for traditional financial institutions and other participants.”
What sets Core apart is its innovative Bitcoin collateralization method. Historically, Bitcoin holders have been unable to directly hold Bitcoin.
However, Core Chain introduces the “first of its kind” non-custodial BTC collateralization mechanism.
This allows BTC holders to earn rewards by participating in the Core chain’s consensus mechanism, Satoshi Plus, which combines delegated proof of work (DPoW) and delegated proof of stake (DPoS).
Unlike previous methods that required wrapping Bitcoin or relinquishing custody of assets, Core’s solution enables users to hold Bitcoin directly on the Bitcoin network while maintaining full custody of their assets.
This breakthrough has garnered significant attention, with recent Bitcoin bets on Core exceeding $200 million.
Following the debut of Velour Hedera ETP tracking HBAR on the Frankfurt Stock Exchange last week, the CORE ETP is launching on the Spotlight Stock Market. This is an optimistic sign of the growing interest in decentralized financial products in the European market.
The Core project states that its blockchain technology aims to unlock over $1.25 trillion of Bitcoin liquidity. By staking BTC, holders can earn rewards through Core’s EVM-compatible smart contract protocol, including block rewards and transaction fees, thereby generating profits.
According to the team, since the mainnet launch in January 2023, Core has attracted over 18 million unique addresses and processed 256 million transactions, indicating widespread adoption of its technology.
Edited by Stacey Elliott.