Valour's Pi Network ETP Performance: A Volatile Ride Since Launch

Valour's Pi Network ETP, launched in August 2025, offers regulated exposure to Pi Network's native token, PI. The product trades on Sweden's Spotlight Stock Market and is denominated in Swedish krona. Despite a large global user base and growing mainnet applications, PI remains volatile and lightly integrated into major exchanges. The ETP's annual management fee is 1.9%, which is high relative to many crypto ETPs and traditional ETFs. Since its launch, the ETP has delivered weak results, mirroring the decline in PI's spot market during the second half of 2025 and early 2026. Trading activity was thin, and assets under management were reported at only a few thousand US dollars after the first month. As of February 2026, the ETP was trading between 12.96 and 13.13 SEK.