Virtune launches first Stablecoin Index ETP in Europe
The post Virtune launches first Stablecocom. Swedish crypto asset management company Virtune announced the launch of the Stablecoin Index ETP on Nasdaq Stockholm, Nasdaq Helsinki, and Deutsche Börse Xetra. Summary Swedish-regulated asset manager Virtune has launched Europe’s first stablecoin-focused exchange-traded product, the Virtune Stablecoin Index ETP. Backed by crypto assets held with Coinbase and listed across major European exchanges, the ETP reflects the growing institutional and retail interest in stablecoins, which are increasingly being adopted by banks and financial institutions across Europe. On Nov. 5, the Swedish-regulated crypto asset manager unveiled its stablecoin index exchange-traded product in European exchanges. Launched under the Bloomberg ticker STABLE, the physically backed exchange-traded product offer investors exposure to a variety of blockchains and crypto assets that provide the infrastructure for and fuel the adoption of stablecoins. The stablecoin-focused ETP is described as the “first of its kind” in Europe, debuting as STABLE on Nasdaq Stockholm, Nasdaq Helsinki with the ticker STABLEE and Deutsche Börse Xetra under VRTN. Investors can access the product through a number of brokers and banks, including Avanza, Nordnet, SAVR, Scalable Capital, Smartbroker and Finanzen Zero. By investing in an index that exclusively focuses on the stablecoin ecosystem, investors will gain exposure to the blockchains and assets driving the industry forward. Not only that, it also reduces the risk of concentrating on a small group of assets by casting the net broadly upon the wider stablecoin market. Head of ETF and ETP Services at European Markets Nasdaq, Helena Wedin, said that the Nasdaq exchange is committed to fostering innovation within a regulated and transparent marketplace. One of the ways is by introducing Virtune’s new product into the market. “The launch of the Virtune Stablecoin Index underscores the strong momentum in the ETP space and represents a significant milestone for both investors and the broader digital asset ecosystem,”.