Virtune Launches Avalanche and Cardano ETPs in Finland Targeting Growing Investor Demand

Swedish crypto asset manager Virtune has launched new exchange-traded products (ETPs) in Finland, offering exposure to Avalanche (AVAX) and Cardano (ADA).

Swedish crypto asset manager Virtune has launched two new exchange-traded products (ETPs) in Finland, offering investors exposure to crypto assets Avalanche (AVAX) and Cardano (ADA).

This launch marks the latest in a series of crypto-related ETPs released by Virtune, with five others being launched recently. The Cardano ETP provides 1:1 exposure to ADA, with an additional 2% annual staking return, while the Avalanche ETP mirrors the performance of AVAX holdings. Both ETPs commenced trading on Nasdaq Helsinki on Friday, following their debut on Nasdaq Stockholm.

Christopher Kock, the CEO of Virtune, stated that the launch was a response to the growing demand from Finnish investors for crypto exposure. The assets will be stored securely in cold storage, with Coinbase acting as the custodian.

This move further solidifies Virtune's presence in the Nordic market, where they had previously introduced ETPs for Bitcoin, Ethereum, Solana, and XRP.

Avalanche and Cardano, currently ranked 12th and 9th respectively by market capitalization, have been gaining traction in the crypto space. Some analysts are predicting that Cardano may be poised for a major rally this year, following a significant price surge in late 2022.

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In addition to the two new ETPs, Virtune's Crypto Altcoin Index ETP is also available in Finland. This ETP tracks a basket of crypto assets, including Solana and Chainlink, and is rebalanced monthly to reflect market movements.

Meanwhile, institutional interest in crypto assets continues to grow, with BlackRock preparing to launch a Bitcoin ETP in Europe.