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Virtune launches crypto basket ETP on Nasdaq Stockholm


Digital asset manager Virtune has announced the introduction of their crypto basket index ETP on Nasdaq Stockholm. The ETP offers exposure to up to 10 cryptocurrencies in one single product.

The firm writes that the ETP is 100 per cent physically backed by cryptocurrencies and fully collateralised and will be available in SEK for the Swedish investors and in EUR for the rest of the Nordic investors. 

The product holds two ISINs to cater according to each currency, SEK (SE0020052207) for Swedish investors and EUR (SE0020052215) corresponding to Euro investors. The firm writes that the ETP has an allocation of cryptocurrencies with a maximum weight of 40 per cent per cryptocurrency to promote diversification, providing a balanced and diversified investment alternative. Further, only cryptocurrencies that are approved by Nasdaq are eligible in the ETP which adds an extra layer of qualification for each cryptocurrency.

The firm writes that this product caters to institutional investors and experienced crypto enthusiasts while also serving as an excellent entry-level product for those new to crypto investments. The product will be available on Nordnet, the largest saving platform in the Nordics.

The firm writes that this groundbreaking product fills a void in the Nordic market, allowing investors to consolidate their crypto investments into a single product traded on the regulated Nasdaq Stockholm exchange. The ETP can be held in an ISK (Investeringssparkonto), capital insurance and custody account.

The ETP features monthly rebalancing, ensuring it remains up to date and aligned with current market conditions. The firm writes that with a diversified portfolio, investors can mitigate risks associated with investing solely in a single cryptocurrency. As the crypto market continues to grow beyond Bitcoin, a top 10 portfolio provides exposure to 85 per cent of the market, capturing its full potential, the firm says. Fees on the product are 1.95 per cent.

Christopher Kock, CEO of Virtune says: “We are excited to introduce the first-ever index crypto ETP to the Nordic Market, particularly on Nasdaq Stockholm, one of the most renowned stock exchanges. Virtune has recognised a strong demand for diversified crypto investment products in the Nordic region and is proud to launch this product in collaboration with leading service providers such as Vinter (index provider), Nordic Issuing (issuing agent), Flow Traders (market maker) and Coinbase (custodian) among many others.”

Helena Wedin, Head of ETP Services, Global Trading and Market Services, Nasdaq Stockholm says: “Exchange Traded Products provide access to alternative investments while maintaining the transparency of a regulated marketplace, and we are very happy to welcome Virtune as a new issuer of crypto ETPs at Nasdaq Stockholm”.

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