DeFi Technologies

DeFi Technologies is a listed asset management company whose core business is issuing exchange-traded products on crypto assets through its Valour subsidiary; the products list on several European exchanges and track bitcoin, ether and token baskets. The problem it targets is the channel between brokerage accounts and crypto markets, since a traditional account cannot hold tokens directly, and an exchange-traded product packages the exposure as a custodised, settleable security.

In category terms it is CeFi and digital asset management for clients who only use a brokerage account and institutions needing compliant exposure. The mechanism is a fully collateralised replication strategy: each product maps to custodied spot or equivalent futures positions, market makers hold the spread between primary-market creation and secondary quotes, and a management fee accrues on held size, with staking and node operation adding a technology services line. As of September 2026 the exchange-traded product business held about USD 640 million in assets, with second-quarter 2026 revenue of roughly USD 7.8 million.