Decentraland (MANA), AAVE and FTX Token (FTT) are planning to issue their ETPs. AAVE is known as the fourth largest crypto lending platform on the Ethereum blockchain. FTX Token, on the other hand, takes its place in the market as the native token of the cryptocurrency exchange bearing its name.
Decentraland consists of 90,601 parcels of digital land and is recognized as a decentralized 3D metaverse platform. Digital land NFTs on this platform can be purchased with MANA, the native token of Decentraland on the Ethereum blockchain.
It is thought that digital land worth 180 million dollars has been sold in Decentraland, which has become one of the trends of the rising metaverse universe after Facebook changed its name to Meta.
Decentraland, AAVE and FTX Token ETPs are first available in Paris and Amsterdam.
It is reported that the MANA, AAVE and FTX Token ETPs that will be available in the market will first launch in Paris and Amsterdam. ETPs that follow these cryptocurrencies are expected to be traded on Euronext exchanges in Paris and Amsterdam.
ETPs are basically types of securities that track securities, index or other financial instruments. ETPs trade on exchanges similar to stocks, which means their prices can fluctuate from day to day or from day to day. However, the prices of ETPs are derived from the underlying investments they track.
Although ETFs and ETPs have been very popular in the last 30 years, they are only just getting popular in the crypto world. For example, in December Polygon launched an ETP product that tracks the value of its native token, MATIC. Last June, Solana also created an ETP for its native token, SOL. Cardano (ADA) and Stellar (XLM) are also among the crypto assets issuing ETPs. Also earlier this week, Fidelity launched the first Bitcoin-based ETP in Europe and is trading at the lowest value compared to its competitors in the market.