Virtune has introduced two more crypto ETPs on the Nasdaq Helsinki Stock Exchange after its mass listing of five ETPs last January.
In a press release, asset management firm Virtune announced the launch of two new crypto exchange-traded products: Virtune Avalanche (AVAX) ETP and Virtune Staked Cardano (ADA) ETP on Nasdaq Helsinki. This is the first time a Cardano-backed ETP and an Avalanche-backed ETP is introduced on Finland’s stock market.
By trading crypto-backed ETPs, investors are granted exposure to digital assets like Avalanche and Cardano through Virtune ETPs. According to the press release, both ETPs are physically backed and fully collateralized. In addition, Virtune Avalanche ETP and Virtune Staked Cardano ETP are both denominated in euro, making it easier for Finnish traders to invest in the product.
In the case of Virtune Staked Cardano ETPs, the asset management firm offers investors a 2% annual return through its staking rewards programs.
Both ETPs will be listed on Nasdaq Helsinki and Nasdaq Stockholm with the tickers VIRAVAXE and VIRADAE. Both products are accessible via brokers and banks such as Nordnet.
Virtune introduces first crypto ETPs in Finland
Virtune CEO, Christopher Kock, said the company is looking to expand its local offerings in Finland by introducing the first Avalanche ETP and Staked Cardano ETP on the stock exchange. He added that both products are 100% physically backed and “stored in cold storage” with Coinbase as the official custodian.
“They are accessible to both institutional and retail investors through various brokers and banks,“ said Kock.
Last January, Virtune launched five different crypto-backed ETPs, making them the first batch of Finland’s first crypto exchange-traded products introduced on Nasdaq Helsinki. It was also the largest simultaneous crypto ETP launch in Nordic history as they open Finland’s €20.5 billion ETP market to crypto products.
The five crypto ETPs include products backed by major cryptocurrencies including Bitcoin (BTC), XRP (XRP), and an altcoin index that can track up to 10 major altcoins. Virtune also offered staking rewards for ETPs backed by Ethereum (ETH) and Solana (SOL).
