Virtune introduces the first crypto index Exchange Traded Product (“ETP”) on Nasdaq Stockholm on Monday 15th of May, Virtune Crypto Top 10 Index ETP (VIR10)
Stockholm, 11 May 2023 Virtune, the first regulated digital asset manager in Sweden to launch crypto ETPs on Nasdaq Stockholm, the largest stock exchange in the Nordic region, has announced the introduction of the innovative crypto basket index ETP. The ETP will be listed on Monday 15th of May and offers exposure to up to 10 leading cryptocurrencies in one single product, pioneering the crypto offer in the Nordic market. Virtune is a registered financial institution by the Swedish FSA and withholds an approved EU Base Prospectus for issuing crypto ETPs in Europe.
The ETP which is 100% physically backed by cryptocurrencies and fully collateralized will be available in SEK for the Swedish investors and in EUR for the rest of the Nordic investors. The unique product holds 2 ISINs to cater according to each currency, SEK (SE0020052207) for Swedish investors and EUR (SE0020052215) corresponding to Euro investors. The ETP has an allocation of cryptocurrencies with a maximum weight of 40% 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.
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 https://www.avanza.se/ and https://www.nordnet.se/, the largest saving platforms in the Nordics.
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.
Furthermore, the ETP features monthly rebalancing, ensuring it remains up to date and aligned with current market conditions. 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% of the market, capturing its full potential.
Key Information about the Product:
- Exposure to 85% of the crypto market in one single product
- Allocation based on market capitalization with a 40% cap
- 100% physically backed
- Monthly rebalancing
- 1.95% fee
Virtune Crypto Top 10 Index ETP SEK:
- Trading currency: SEK
- First day of trading: Monday 15th of May
- Ticker: VIR10SEK
- ISIN: SE0020052207
Virtune Crypto Top 10 Index ETP EUR:
- Trading currency: EUR
- First day of trading: Monday 15th of May
- Ticker: VIR10EUR
- ISIN: SE0020052215
Christopher Kock, CEO of Virtune “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: “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”.
The above is only information about the product launch and is not financial advice or a recommendation to invest in Virtune Crypto Top 10 Index ETP.
If you are an institutional investor interested in exploring the potential of our current and upcoming ETPs for your discretionary asset management or wish to learn more about Virtune and our product offerings, please feel free to contact us. Visit www.virtune.com for more information, and register your email address on our website to receive updates on upcoming ETP launches and other news related to digital assets.
Stockholm on 11 May 2023,
For any questions contact:
Christopher Kock, CEO & member of the Board of Directors
Mobile: +46 70 073 45 64
Email: [email protected]
About Virtune AB (Publ)
Virtune with its headquarters in Stockholm, is a fully regulated Swedish digital asset manager and issuer of crypto exchange traded products on regulated European exchanges.
With regulatory compliance, strategic collaborations with industry leaders and our skilled team, we provide investors on a global scale with access to innovative and sophisticated investment products that are aligned with the changing landscape of the global crypto market.