Why Cardano, Polkadot And Solana’s Price May Spike In April?

Crypto tokens Cardano (ADA), Polkadot (DOT), and Solana (SOL) could continue their price rally in April following launch of ETP products on April 6th, 2021. Swiss asset-management company Valour has announced the launch of Cardano, Polkadot, and Solana-linked three exchange-traded products in Europe. The three ETPs will start trading on the Euronext exchanges in Paris, France and Amsterdam, the Netherlands on April 6.

Valour Launches ETPs Tracking ADA, DOT And SOL Prices

Valour Inc., owned by DeFi Technologies, has expanded its list of crypto-exchange traded products with three new investment vehicles, including Valour Cardano, Valor Polkadot, and Valor Solana, reported Bloomberg on April 4.

The three new exchange-traded products tracking the price of Cardano, Polkadot, and Solana cryptocurrencies will be available to trade on the Euronext exchanges in Paris and Amsterdam. Also, the expense fee for the ETPs is 1.9%.

DeFi’s Chief Executive Officer Russell Starr, on the entry of large institutions into the crypto ETPs market, said:

“More large institutions will enter and we expect even greater competition on pricing. What will differentiate the winners and losers is expertise in product innovation and a hyper focus on providing added value to investors.”

Moreover, Valour also has other exchange-traded products such as Uniswap ETP, Avalanche ETP, and Terra LUNA ETP.

Recently, asset management firm WisdomTree also launched its Cardano, Polkadot, and Solana related exchange-traded products (ETPs) on the Euronext exchanges in Paris and Amsterdam, as well as on Börse Xetra and SIX Swiss Exchange.

Furthermore, the latest introduction of crypto-focused investment vehicles including exchanged-traded products in Europe will push the price of Cardano, Polkadot, and Solana higher as demand grows for cryptocurrencies. With about $7.3 billion currently invested in exchange-traded crypto products in Europe, CoinShares Chief Revenue Officer Frank Spiteri believes the investment will double by 2025.

Cardano, Polkadot, Solana Prices Spikes Amid Demand

Crypto-focused ETPs through regulated exchanges offer investors in Europe another option to gain exposure to top cryptocurrencies such as Solana, Cardano, and Polkadot. Moreover, the increasing investors’ interest in cryptocurrencies will make financial services firms introduce more crypto-focused investment vehicles.

As reported by CoinGape Markets, Solana prices may target $150 in April following the bullish divergence pattern on the daily price charts.

Solana price analysis

The prices of Cardano (ADA), Polkadot (DOT), and Solana (SOL) are already moving higher in April, with the current price trading at $1.22, $22.87, and $137.14, respectively at the time of writing.