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Swedish crypto asset manager Virtune is now giving investors in Finland exposure to Avalanche and Cardano via its newly launched crypto ETP products.
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Swedish crypto asset manager Virtune has introduced new crypto exchange-traded products (ETPs) for investors in Finland, offering portfolio exposure to Avalanche and Cardano.
The launch comes just weeks after the firm rolled out five other crypto-related ETPs.
The Virtune Avalanche ETP gives investors direct 1:1 exposure with Avalanche (AVAX), while the Virtune Staked Cardano (ADA) ETP offers the same physical backing with Cardano, plus an additional 2% annual return from staking rewards, according to a Feb. 5 statement from Virtune.
AVAX and ADA offered as ETP products
Virtune CEO Christopher Kock said that the product offerings are “to meet the growing demand from Finnish investors.”
The assets will be securely stored in cold storage through its custodian, crypto exchange Coinbase, and available to institutional and retail investors.
Both ETPs began trading on Feb. 5 on Nasdaq Helsinki, after already being traded on Nasdaq Stockholm.
Avalanche and Cardano are the 12th and 9th largest cryptocurrencies by market capitalization, respectively, according to CoinMarketCap.
Veteran trader Peter Brandt said Cardano is ready for a “grand bull market” after bottoming out on the local chart on Jan. 16. This comes after Cardano surged by 88.8% between Nov. 18 and Dec. 3, reaching its highest price in nearly three years at $1.33.
Cardano is down 21.36% over the past seven days. Source: CoinMarketCap
Virtune launched five crypto ETPs two weeks ago, marking the first of their kind on the Nasdaq Helsinki.
On Jan. 20, the asset management firm launched Virtune Bitcoin (BTC) ETP, Virtune Staked Ethereum (ETH) ETP, Virtune Staked Solana (SOL) ETP, Virtune XRP (XRP) ETP, and Virtune Crypto Altcoin Index ETP.
The Crypto Altcoin Index ETP is rebalanced monthly. As of Jan. 31, it holds equal weightings of 14.29% for XRP, Litecoin (LTC), Solana, Chainlink (LINK), Cardano and Uniswap (UNI).
Related: US Bitcoin ETFs could pull in over $50B in 2025, Bitwise says
Meanwhile, in recent news, BlackRock, the world’s largest asset manager, is preparing to launch a Bitcoin exchange-traded product (ETP) in Europe, which will reportedly be domiciled in Switzerland.
The asset manager plans to start marketing the fund as soon as this month, Bloomberg said, citing people familiar with the matter.
Magazine: Ethereum L2s will be interoperable ‘within months’: Complete guide
This article first appeared at Cointelegraph.com News
