Frequently Asked Questions
Investing in innovation starts with understanding it. If your question doesn't appear below, please contact us: hello@valour.com
About Valour Investment Products
An Exchange Traded Product is listed security that tracks the price movements of an underlying security, index, or financial instrument. ETPs trade on exchanges in a similar way to stocks.
Valour’s current product range includes:
Bitcoin Zero is two exchange-traded products (ETPs) issued by Valour. Specifically, they are open-ended Bitcoin Tracker Certificates, listed on the Nordic Growth Market (NGM) stock exchange in Stockholm, Sweden, as their primary marketplace. Bitcoin Zero is available in two settlement currencies:
The Bitcoin Zero products track the performance of the price of Bitcoin (their underlying asset), adjusted for the exchange rate between the underlying asset currency (USD) and the settlement currency (SEK or EUR). Valour does not charge a management fee for Bitcoin Zero.
Created in 2009, Bitcoin is a digital currency that can be used as a form of electronic cash for digital payments, though people also buy it as an investment. Users can digitally transfer units of Bitcoin on a peer-to-peer basis without an intermediary. All transactions are stored on a public, decentralized ledger (blockchain), which is verified by a transaction script and a decentralized currency issuance algorithm. This process, referred to as "proof of work mining", secures the Bitcoin network, producing one new block every 10 minutes and issuing new bitcoin, up to a fixed maximum total of 21 million.
Ethereum Zero is an exchange-traded product (ETP) issued by Valour. Specifically, it is an open-ended ether (ETH) tracker certificate listed on the Nordic Growth Market (NGM) stock exchange in Stockholm, Sweden, as its primary marketplace.
Ethereum Zero is currently available in one settlement currency, Swedish krona:
The Ethereum Zero product tracks the performance of the price of ether (ETH) (the underlying asset), adjusted for the exchange rate between the underlying asset currency (USD) and the settlement currency (SEK). Valour does not charge a management fee for Ethereum Zero.
Ethereum was launched in 2015 by a team including Vitalik Buterin. The Ethereum blockchain’s native asset, ether (ETH), is currently the world's second-largest cryptocurrency by market capitalization, after Bitcoin. Ethereum is a decentralized, open-source blockchain with smart contract functionality. It enables smart contracts and Distributed Applications (DApps) to be built and run without any downtime, fraud, control, or interference from a third party. The largest current use cases for Ethereum are Decentralized Finance (DeFi), Non-Fungible tokens (NFTs) and Decentralized autonomous organisations (DAOs). Currently, Ethereum relies on the same underlying “proof of work mining” that secures the Bitcoin network but its developers are working to shift the network to a different algorithm, “proof of stake”, which they hope will consume less energy and be more secure. This upgrade is referred to as Ethereum 2.0 and started on Dec. 1, 2020.
Cardano is a decentralized public blockchain and cryptocurrency project that is focused on providing a secure and scalable platform for the development and execution of smart contracts and decentralized applications (DApps). It is the first blockchain platform to be built on the Haskell programming language and is designed to be a next-generation blockchain that addresses the scalability and security issues of previous generation blockchains. Cardano uses a unique proof-of-stake consensus algorithm called "Ouroboros" to reach consensus on the state of the blockchain.
Polkadot is a decentralized network protocol that allows multiple blockchain networks to interoperate and exchange data and value. It is designed to enable a more secure and scalable blockchain ecosystem by allowing different blockchains to operate and communicate with each other in a decentralized manner. It is being developed by the Web3 Foundation and aims to provide a platform for the development and deployment of DApps and smart contracts. It uses a proof-of-stake consensus mechanism to reach consensus on the state of the network.
Solana is a decentralized public blockchain and cryptocurrency project that is focused on providing a fast, scalable, and secure platform for the development and execution of decentralized applications (DApps) and smart contracts. It uses a novel proof-of-history consensus algorithm called "Proof of History" (PoH) to achieve fast transaction speeds and low fees. Solana is designed to be able to process up to 65,000 transactions per second, making it one of the fastest blockchain platforms in the world. It is being developed by Solana Labs, a San Francisco-based technology company, and has partnerships with a number of notable organizations in the technology and cryptocurrency industries.
Solana is a decentralized public blockchain and cryptocurrency project that is focused on providing a fast, scalable, and secure platform for the development and execution of decentralized applications (DApps) and smart contracts. It uses a novel proof-of-history consensus algorithm called "Proof of History" (PoH) to achieve fast transaction speeds and low fees. Solana is designed to be able to process up to 65,000 transactions per second, making it one of the fastest blockchain platforms in the world. It is being developed by Solana Labs, a San Francisco-based technology company, and has partnerships with a number of notable organizations in the technology and cryptocurrency industries.
Uniswap is an open protocol that allows users to exchange tokens on the Ethereum blockchain in a decentralized manner. It is a type of decentralized exchange (DEX) that uses a system of smart contracts to facilitate the buying and selling of tokens without the need for a central authority or third party. Uniswap uses a unique liquidity pool system, where users can add their own tokens to the pool in exchange for a share of the pool's fees. This allows users to trade tokens directly with each other, rather than having to go through an order book like on a traditional exchange. Uniswap has become a popular choice for traders and investors looking for an alternative to centralized exchanges.
Cosmos is a decentralized network of independent parallel blockchains that is designed to support the scalability, interoperability, and usability of blockchain technology. It is based on a unique consensus algorithm called "Tendermint BFT" that allows for fast and secure transaction finality. Cosmos uses a modular architecture that allows developers to build custom blockchain applications that can interoperate with other blockchains in the Cosmos network. It aims to be a decentralized platform for the development and deployment of a wide variety of applications, including decentralized finance (DeFi) applications, supply chain management systems, and more. Cosmos is being developed by the Interchain Foundation, a Swiss non-profit organization.
Enjin is a blockchain-based platform that allows developers to easily create, manage, and integrate blockchain assets into their games and applications. It is designed to provide a user-friendly and scalable platform for the creation of non-fungible tokens (NFTs) and the integration of blockchain technology into the gaming industry. Enjin is built on top of the Ethereum blockchain and uses the ERC-1155 standard for NFTs, which allows for the creation of both fungible and non-fungible tokens within a single smart contract. In addition to its focus on the gaming industry, Enjin is also being used for a variety of other applications, including asset tracking and provenance, supply chain management, and more.
About Valour
Valour Inc. (Valour) is an Issuer of Exchange-Traded Products (ETPs) that enables retail and institutional investors to access investment in disruptive innovations, such as digital assets, in a simple and secure way. Valour Inc has been incorporated in June 2019 in the Cayman Islands.
Valour was founded by an acclaimed and pioneering team with decades of experience in both investment banking and emerging technologies: Johan Wattenström, who created and listed the world's first crypto ETP on Nasdaq Nordic, in 2015; Olivier Roussy Newton, the first to list a Crypto mining company - HIVE Blockchain Technologies Ltd. - on the Toronto Stock Exchange, in 2017; and Wouter Witvoet, Founder & CEO of SecFi, a stock option financing startup which raised $550M from Serengeti Asset Management earlier this year.
Valour (The Company) (NEO: DEFI) (GR: RMJR) (OTCQB: DEFTF) is a technology company bridging the gap between traditional capital markets and decentralized finance (DeFi). As the first and only publicly traded company focused solely on exchange-traded digital assets, it connects traditional financial markets with Web3 and DeFi by providing diversified exposure across the digital asset ecosystem through secure and regulatory-compliant products. Valour’s mission is to provide all investors with the opportunity to invest in decentralized finance products on regulated exchanges, enabling them to access this emerging asset class via exchange-traded products (ETPs). Valour’s aim is to offer these ETPs on exchanges all over the world, furthering its mission of expanding access to financial products that could provide financial freedom to small-dollar investors. The Valour team is based in Switzerland, the UK, and Canada.
Valour is open to partnerships, including helping others launch their own innovative financial products. If you are interested in learning more about working with Valour, please contact our team at hello@valour.com.
How to buy Valour Investment Products
Valour is an issuer of exchange-traded products (ETPs), which can be traded in the same way as ETFs or common shares. To buy Valour products, you need a trading account at a bank, online broker or other intermediary which has access to the exchanges where Valour’s products are listed. These include:
The products can be identified by your bank, broker, advisor, or in your online self-directed trading account, by searching any of the following. If you are considering buying a Valour investment product, please read carefully through the associated documentation to best understand the nature, risks, costs, and potential gains and losses, and to help you compare it with other products. This website and the materials herein are not investment advice nor a solicitation to purchase investment products. We encourage you to conduct your own due diligence and/or to consult with a financial advisor.
Valour currently has products listed on Nordic Growth Market (NGM) in Sweden, Borse Frankfurt Zertifikate in Germany, and Euronext (Paris and Amsterdam). In future, Valour plans to list products on other exchanges, including regular stock exchanges and Multilateral Trading Facilities (MTFs). New listings will be announced via our mailing list.
The minimum investment, or minimum trading lot, for Valour’s products, is one unit of the product. In the case of Valour ETPs, this means one certificate.
The minimum amount required to invest is therefore equal to the price of one certificate of the relevant Valour ETP. Please consult your bank, broker, financial advisor or online brokerage platform to confirm their applicable fees.
The value of the ETP is based on a calculation of an arithmetic average of the last paid prices of the underlying asset on the three or four most liquid eligible cryptocurrency exchanges as determined by Valour. This value (reference price) is recalculated from USD to the settlement currency (SEK or EUR) before the multiplier is applied. The result constitutes the theoretical fair value of the product. See this Fair Value Calculation on our Investment Products page.
Upon selling a unit or units of the ETP in the secondary (stock) market, Valour will immediately hedge its exposure by buying the equivalent amount of the underlying asset (or group of assets) on a 1:1 basis on the relevant digital asset exchange(s). By doing so, Valour is at all times 100% hedged. If a holder of the ETP sells his/her units back in the secondary (stock) market, Valour will itself sell the equivalent amount of the underlying asset (or group of assets) on the relevant exchange(s) to pay the investor the value of their holdings.
Digital assets are held in cold storage with industry-leading custodians. Valour has a number of measures in place to ensure the security of the underlying assets, including cryptographic security, offline protection, multiple private keys, and whitelisting of wallets.
