Along with the newly launched XRP ETP, Virtune gives entry to 10 different crypto-related merchandise.
Swedish regulated digital asset supervisor Virtune has introduced the launch of its new crypto-related exchange-traded product (ETP), dubbed Virtune XRP ETP. The product is listed for buying and selling on the favored inventory change Nasdaq Stockholm for traders inside the area.
In response to a press release revealed Tuesday, the brand new fund is the first-ever XRP-related ETP listed on the inventory change. The product gives traders 1:1 publicity to the digital asset, which is closely related to Ripple, a blockchain cost infrastructure supplier.
Key Particulars of the Virtune XRP ETP
Virtune acknowledged that the brand new funding product started buying and selling on Nasdaq Stockholm on June 2 below the ticker VIRXRP. The asset can also be acknowledged by the quick title Virtune XRP, and customers can buy the product utilizing the native forex, Swedish kronor (SEK).
The corporate revealed that Virtune XRP carries an annual administration charge of 1.49%, which is aggressive inside the trade. The product can also be 100% bodily backed, making certain that every unit of the ETP is backed by an equal quantity of XRP.
Moreover, the asset supervisor talked about that the fund is totally collateralized and out there on each Avanza and Nordnet, Swedish digital banks for financial savings and investments.
Enhanced Entry to Digital Belongings
Virtune disclosed that the launch of the brand new funding product will present traders within the Nordic area with larger entry to digital belongings. The 1:1 publicity and bodily backing of the ETP make it a sexy possibility for these seeking to put money into XRP with out the complexities of immediately buying and storing digital asset.
The corporate’s CEO, Christopher Kock, acknowledged that the product, out there for each skilled institutional traders and retail merchants, shall be custodied by the crypto change Coinbase.
“This revolutionary product is 100% bodily backed with XRP being saved with our custodian Coinbase, and is accessible for each institutional and retail traders by way of a number of brokers and banks,” Kock mentioned.
He additional acknowledged that the introduction of the ETP into the Nordic market “fulfills the rising demand amongst traders searching for a safe and accessible method to put money into XRP.”
Virtune’s Increasing Portfolio
Along with the newly launched XRP ETP, Virtune gives entry to 10 different crypto-related merchandise. These choices embody Virtune Bitcoin ETP, Virtune Arbitrum ETP, Virtune Chainlink ETP, and Virtune Staked Cardano ETP.
The corporate is thought inside the Nordic market as an issuer of crypto exchange-traded merchandise on regulated European exchanges.
The Swiss agency goals to empower traders around the globe by offering entry to revolutionary and complicated funding merchandise that align with the evolving panorama of the worldwide crypto market.
