DeFi Technologies Announces CoreFi Strategy, Following Success of MicroStrategy
11/14/2024 21:46DeFi Technologies has announced plans to launch CoreFi Strategy, a new investment vehicle aimed at providing exposure to Bitcoin and its associated decentralized finance ecosystem.
DeFi Technologies has announced plans to launch CoreFi Strategy, a new investment vehicle aimed at providing exposure to Bitcoin and its associated decentralized finance ecosystem.
Scheduled to debut in the first quarter of 2025, the initiative will operate on a Canadian stock exchange, according to a press release from the company.
CoreFi Strategy is designed to replicate investment strategies seen in firms such as MicroStrategy and MetaPlanet. It will focus on accumulating Bitcoin (BTC) and CORE, the native asset of the Core blockchain. By leveraging financing strategies, CoreFi aims to build its treasury while offering investors regulated access to Bitcoin staking and yield generation opportunities.
Olivier Roussy Newton, CEO of DeFi Technologies, emphasized the potential for investors to engage with the burgeoning Bitcoin staking ecosystem through this new strategy.
The firm’s approach mirrors successful models that have seen significant stock price appreciation, with MicroStrategy's shares rising over 500% in the past year, and Bitcoin itself increasing by approximately 150%.
Core currently holds over 8,200 staked Bitcoin and boasts a total value locked (TVL) exceeding $700 million. Its recent Dual Staking integration allows CORE token holders to achieve higher staking yields when they stake Bitcoin, enhancing the potential returns for investors.
As of July 31, DeFi Technologies reported CA$837 million ($597.65M) in assets under management (AUM). Analysts, including Benchmark's Mark Palmer, have expressed a positive outlook, anticipating continued growth in AUM due to new exchange-traded product (ETP) launches and rising prices of underlying crypto assets.
DeFi Technologies trades under the ticker CBOE:DEFI in Canada and is also available over-the-counter in the United States.