Cardano ETP Goes Live on Nasdaq Helsinki Stock Exchange
Leading Sweden-based digital asset manager Virtune has launched a Cardano (ADA) exchange-traded product (ETP) in Finland. According to a press release, the Virtune Staked Cardano ETP fund was listed on the Nasdaq Helsinki Stock Exchange yesterday under the ticker VIRADAE. Following its listing, VIRADAEs trading began immediately on February 5, 2025. Virtune Staked Cardano ETP Features Notably, the newly launched Cardano ETP offers retail and institutional investors a direct 1:1 exposure to ADA. Also, investors will enjoy an additional 2% annual return from staking rewards on the financial instrument, which will be added continuously and reflected in the ETPs daily price. Per the press release, the Cardano ETP is 100% physically backed by ADA, offering a 1.49% management fee. The ADA coins backing the ETP are stored in Coinbases cold storage. Virtune tailored the Cardano ETP for European investors, focusing on those residing in Finland by denominating the product in euros (EUR). Virunes Crypto ETP Offerings In addition to the Cardano ETP, Virtune launched another crypto exchange-traded product tied to Avalanche (AVAX) yesterday. Like the Cardano ETP, the Virtune Avalanche ETP (VIRAVAXE) is fully backed by AVAX. It also offers investors a 1:1 exposure to the underlying coin. Likewise, VIRAVAXE comes with a 1.49% management fee, with an additional 2% annual return from staking rewards. Following the launch of Virtunes Cardano and Avalanche ETPs, the company now offers seven crypto-related exchange-traded products in Finland. The other five ETPs include Virtune Bitcoin ETP, XRP ETP, Staked Solana ETP, Staked Ethereum ETP, and Crypto Altcoin Index ETP. Virtune launched these financial products two weeks ago, exposing investors to their underlying crypto assets. Analyst Predicts Monster Parabolic Rally for ADAIn the meantime, Cardano ranks as the ninth-biggest cryptocurrency, with a market cap of $26.22 billion. Priced at $0.7482, ADA is down 2.87% in the past 24 hours and 22.5% in one week.
Text source: The Crypto Basic
