Erik Weijers, 9 months ago

Binance Coin will trade as ETP on Frankfurt exchange

Germany's largest stock exchange has added another crypto product: a Binance ETP. Investors who want to profit from the price rise of crypto without wanting to close an account with, for example, LiteBit, can go there.

An ETP (Exchange Traded Product) tracks the price of a stock, index or currency. In this case, Binance Coin (BNB). ETPs are suitable for investors who may be less interested in the direct use of crypto and more in its price appreciation. Of course, you, dear reader, are in crypto for the cool technology - and the price appreciation is secondary!

The market player offering the Binance ETP on the Frankfurt exchange is Valour. It is interesting to take a look at what other coins ETPs Valour has on offer:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Uniswap (UNI)
  • Cardano (ADA)
  • Polka Dot (DOT)
  • Solana (SOL)
  • Avalanche (AVAX)
  • Cosmos (ATOM)
  • Enjin (ENJ)

Those are - except for BTC and ETH - all coins that emerged in the last bull market. And indeed, Valour was only founded in 2019. Coins like Bitcoin Cash and Litecoin are probably less on the radar of these 'newbs'.

BNB is holding strong

BNB is the Binance exchange's own coin and blockchain, currently the number 5 crypto in terms of total market value. It is originally a utility token, which discounts trading on Binance. Since the Binance Chain is used for DeFi, BNB has a function there too, in paying transaction fees, for example.

Since February 2021, when the use of the Binance Smart Chain took off, the value of BNB went up more than ten times in a short time: from around $45 to over $600. The price has - not surprisingly - fallen in the recent crypto bear market - but still stands around $300. That's remarkable: in percentage terms the drop is less than that of, say, BTC or ETH - let alone the other so-called Alternative Layer 1s or Ethereum killers like AVAX, SOL or ADA. Those BNB competitors, without exception, fell more than 85% in value since the peak.

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