Swedish Digital Asset Manager Unleashes Avalanche and Cardano ETPs on Nasdaq Helsinki!

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In a move that can only be described as “slightly less surprising than discovering a new flavor of ice cream,” the Swedish crypto asset manager Virtune has decided to grace the good people of Finland with not one, but two shiny new crypto exchange-traded products (ETPs). Yes, you heard that right! Now you can bask in the glory of portfolio exposure to Avalanche and Cardano, because who wouldn’t want to dip their toes into the frosty waters of digital assets? ❄️

This grand unveiling comes just weeks after Virtune decided that five other crypto-related ETPs were simply not enough to satisfy the insatiable appetite of investors. Apparently, the universe was crying out for more crypto options, and Virtune was there to answer the call—like a superhero, but with less spandex and more spreadsheets.

The Virtune Avalanche ETP offers investors a direct 1:1 exposure to Avalanche (AVAX), which sounds impressive until you realize it’s just a fancy way of saying, “You get what you pay for.” Meanwhile, the Virtune Staked Cardano (ADA) ETP not only provides the same physical backing with Cardano but also throws in an additional 2% annual return from staking rewards. It’s like getting a free side of fries with your burger, but in the world of crypto! 🍟

AVAX and ADA Offered as ETP Products

Virtune’s CEO, Christopher Kock, has declared that these product offerings are “to meet the growing demand from Finnish investors.” Because, of course, what every Finn has been dreaming of is a chance to invest in digital assets that sound like they were named after a particularly enthusiastic snowstorm and a friendly neighborhood robot.

Rest assured, these assets will be securely stored in cold storage through its custodian, crypto exchange Coinbase. So, if you were worried about your investments being kept in a shoebox under someone’s bed, fear not! They’ll be available to both institutional and retail investors, which is just a fancy way of saying, “Everyone can join the party!” 🎉

Both ETPs began trading on Feb. 5 on Nasdaq Helsinki, after already being the talk of the town on Nasdaq Stockholm. It’s like they’re on a world tour, but instead of concerts, they’re just trading assets. How thrilling!

Avalanche and Cardano are currently the 12th and 9th largest cryptocurrencies by market capitalization, respectively, according to CoinMarketCap. So, if you’re keeping score, that’s a solid place to be in the cosmic game of digital currency musical chairs.

In a twist of fate that could only be described as “mildly exciting,” veteran trader Peter Brandt has proclaimed that Cardano is ready for a “grand bull market” after bottoming out on the local chart on Jan. 16. This comes after Cardano surged by a staggering 88.8% between Nov. 18 and Dec. 3, reaching its highest price in nearly three years at $1.33. It’s like watching a tortoise suddenly decide to run a marathon! 🐢🏃‍♂️

Virtune launched five crypto ETPs just two weeks ago, marking the first of their kind on the Nasdaq Helsinki. It’s a historic moment, folks! On Jan. 20, the asset management firm rolled out the Virtune Bitcoin (BTC) ETP, Virtune Staked Ethereum (ETH) ETP, Virtune Staked Solana (SOL) ETP, Virtune XRP (XRP) ETP, and the Virtune Crypto Altcoin Index ETP. It’s like a buffet of digital assets, and everyone is invited! 🍽️

The Crypto Altcoin Index ETP is rebalanced monthly, which is just a fancy way of saying they like to keep things fresh. As of Jan. 31, it holds equal weightings of 14.29% for XRP, Litecoin (LTC), Solana, Chainlink (LINK), Cardano, and Uniswap (UNI). It’s a veritable smorgasbord of cryptocurrencies!

Meanwhile, in a plot twist that could only be described as “the rich get richer,” 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. Because, of course, where else

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2025-02-06 09:01