Swedish Asset Manager Virtune Launches Avalanche and Cardano ETPs on Nasdaq Helsinki

Virtune, a Swedish digital asset management firm, has expanded its crypto exchange-traded product (ETP) offerings with the launch of new products that provide Finnish investors with exposure to Avalanche (AVAX) and Cardano (ADA). This move comes just weeks after Virtune introduced five other crypto-related ETPs, marking a significant step in the firm’s growing presence in the European market.

The new Virtune Avalanche ETP offers direct 1:1 exposure to Avalanche (AVAX), while the Virtune Staked Cardano ETP provides investors with the same physical backing in Cardano (ADA), along with an additional 2% annual return from staking rewards. Both ETPs began trading on February 5 on Nasdaq Helsinki, after previously being listed on Nasdaq Stockholm.

Meeting Growing Demand from Finnish Investors

Virtune's CEO, Christopher Kock, explained that the launch of the Avalanche and Cardano ETPs is in response to the increasing demand from Finnish investors looking for diversified crypto investment options. These products are designed to give both institutional and retail investors in Finland a simple and secure way to gain exposure to these two prominent digital assets.

The assets backing both ETPs are securely stored in cold storage through Virtune’s custodian, crypto exchange Coinbase, ensuring a high level of security for investors.

Avalanche and Cardano: Leading Cryptocurrencies by Market Capitalization

Avalanche (AVAX) and Cardano (ADA) are two of the largest cryptocurrencies by market capitalization, currently ranked 12th and 9th, respectively, according to CoinMarketCap. This makes them highly attractive to investors seeking to tap into the growing potential of blockchain technology and decentralized finance (DeFi).

Cardano, in particular, has recently gained attention from market experts. Veteran trader Peter Brandt has speculated that Cardano may be poised for a “grand bull market” following its January 16 local bottom. This bullish sentiment follows an impressive 88.8% surge in Cardano's price between November 18 and December 3, 2024, which saw the token reach its highest price in nearly three years at $1.33.

Expanding ETP Offering

The launch of the Virtune Avalanche and Cardano ETPs builds on Virtune’s recent expansion of crypto-based financial products. On January 20, the firm introduced five other crypto ETPs on Nasdaq Helsinki, including Virtune Bitcoin (BTC), Virtune Staked Ethereum (ETH), Virtune Staked Solana (SOL), Virtune XRP (XRP), and Virtune Crypto Altcoin Index ETP. These products marked the first crypto ETPs listed on Nasdaq Helsinki.

The Virtune Crypto Altcoin Index ETP, which is rebalanced monthly, holds equal weightings in assets such as XRP, Litecoin (LTC), Solana, Chainlink (LINK), Cardano, and Uniswap (UNI), making it an attractive option for investors seeking broad exposure to a range of leading altcoins.

A Changing Crypto Investment Landscape

As more traditional asset managers enter the crypto space, the availability of products like Virtune's ETPs reflects growing institutional interest in digital assets. Notably, BlackRock, the world’s largest asset manager, is preparing to launch a Bitcoin ETP in Europe, domiciled in Switzerland, signaling further mainstream acceptance of cryptocurrency investments.

With the crypto market gaining traction among both retail and institutional investors, the demand for accessible and secure investment products continues to rise. Virtune’s ongoing product launches are positioning the firm as a key player in the European crypto investment space.

Conclusion

Virtune’s launch of Avalanche and Cardano ETPs on Nasdaq Helsinki offers Finnish investors a unique opportunity to gain exposure to two of the largest and most promising cryptocurrencies in the market. As digital assets continue to gain mainstream acceptance, products like these ETPs are expected to play an increasingly important role in providing investors with safe and regulated access to the crypto market.