As a seasoned crypto investor with a strong background in European financial markets, I am thrilled about Virtune’s latest announcement regarding the launch of their new exchange-traded product (ETP) backed by Ripple (XRP) on Nasdaq Stockholm. This development is a significant milestone for the Nordic crypto investment market and a testament to the growing acceptance and maturity of digital assets as a legitimate investment class.
On the 2nd of July, 2024, Virtune – a Swedish firm overseeing digital assets as a regulated manager – introduced its latest exchange-traded product (ETP) named Virtune XRP ETP, for trading on Nasdaq Stockholm.
Virtune AB is known for providing exchange-traded instruments (ETIs) tied to cryptocurrencies. This company functions under the watchful eye of the Swedish Financial Supervisory Authority and holds an approved EU Base Prospectus, guaranteeing compliance with European regulatory norms for its offerings.
Virtune offers a selection of Exchange-Traded Products (ETPs), enabling investors to tap into diverse cryptocurrencies. Among these offerings are Bitcoin, Ethereum, and other prominent crypto’s physically-backed options. Furthermore, there are staking ETPs for assets such as Polkadot, Solana, and Cardano. These ETPs can be traded on significant European exchanges like Nasdaq Stockholm and Boerse Stuttgart, expanding accessibility for various investors.
The executives at Virtune consist of CEO Christopher Kock, CTO and COO Peter Arvidsson, and CFO Daniel Lundberg, each bringing impressive resumes in business development, finance, and technology to the table. Our partnership with top custodians like Coinbase bolsters the safety of our clients’ assets using premium cold storage technologies.
As a crypto investor, I’m excited about today’s announcement from Virtune. This launch signifies a major advancement for the Nordic crypto investment market, enabling us to securely and regulationally invest in XRP – one of the top cryptocurrencies renowned for its efficient cross-border payment capabilities.
The Virtune XRP Exchange-Traded Product (ETP) is specifically engineered to allow investors easy access to the XRP digital currency. Similar to all other offerings from Virtune, this ETP is fully collateralized and physically backed, implying that every ETP unit corresponds to a real, securely held XRP equivalent with Coinbase serving as the custodian.
The Exchange-Traded Product (ETP) is priced in Swedish Krona (SEK), which makes it a convenient choice for investors based in the Nordic region. This asset can be easily purchased through widely used investment platforms like Avanza and Nordnet within the Nordic market.
Key Information about Virtune XRP ETP
- Exposure: 1:1 exposure to XRPBacking: 100% physically backedManagement Fee: 1.49% annual management feeFull Name: Virtune XRP ETPShort Name: Virtune XRPTicker: VIRXRPTrading Currency: SEKFirst Day of Trading: 2 July 2024ISIN: SE0021486156Stock Exchange: Nasdaq Stockholm
XRP, as described by Virtune, is a digitally innovated asset designed for swift, affordable, and intricately woven cross-border transactions. Distinct from conventional banking systems, XRP exchanges are completed in mere seconds, positioning it as a popular choice for global money transfers. Moreover, the underlying XRP blockchain technology fortifies security, maintains transparency, and guarantees dependability. Furthermore, one of its key selling points is the minimal transaction fees that offer a substantial edge for high-volume transfer operations.
Christopher Kock, the CEO of Virtune, was thrilled about the upcoming launch and underscored the significant strides the company had made in both expansion and product innovation during the year 2024. He pointed out that the listing of the Virtune XRP Exchange-Traded Product (ETP) on Nasdaq Stockholm responds to the escalating interest among investors seeking reliable and convenient investment opportunities for XRP.
Kock pointed out that this groundbreaking offering is fully collateralized with XRP held by our trusted custodian, Coinbase. It caters to both institutional and individual investors, who can gain access to it through various brokers and banks. This introduction addresses the increasing interest among investors seeking a safe and convenient method for investing in XRP.
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2024-07-02 19:21