DeFi Technologies is set to launch an Exchange-Traded Product (ETP) based on Ripple’s XRP in Europe in December, expanding its digital asset investment offerings. The ETP, debuting on a European exchange via Valour Inc, aligns with the increasing demand for cryptocurrency exposure among European investors.
With a robust market cap of 1.49 trillion dollars, DeFi Technologies is a major player in the technology and digital asset sector. The current Price-to-Earnings Ratio (PER) stands at 73.28, reflecting investor optimism about future growth.
InvestingPro Insights suggest focusing on the company’s impressive 10.32% revenue growth in the last twelve months up to Q3 2023, supported by a 12.57% quarterly revenue increase in 3Q 2023. The company’s gross profit margin is an impressive 46.24%, indicating profitability amid expansion.
As DeFi Technologies innovates, plans for more low or zero management fee ETPs are underway. Investors are eagerly awaiting the February 1, 2024 earnings release for insights into the company’s financial trajectory.
Consider a deeper analysis with InvestingPro’s 15 additional tips, available with a Black Friday special offering up to 55% off subscriptions. With a fair value estimated at $165.52, slightly below analysts’ $174 target, there’s room for growth and optimism in DeFi Technologies’ market valuation.