Virtune Launches Europe’s First Stablecoin Index ETP on Major Exchanges
Swedish crypto asset management company Virtune announced the launch of the stablecoin Index ETP on Nasdaq Stockholm, Nasdaq Helsinki and Deutsche Börse Xetra.
Swedish-regulated asset manager Virtune has introduced Europe’s first exchange-traded product focused on stablecoins, the Virtune Stablecoin Index ETP. This innovative product is backed by crypto assets held at Coinbase and listed on major European exchanges, reflecting the growing institutional and private interest in stablecoins. The increasing adoption of stablecoins by banks and financial institutions across Europe has paved the way for this launch.
Key Features of the Virtune Stablecoin Index ETP
The Virtune Stablecoin Index 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 Finance Zero. By investing in an index focused solely on the stablecoin ecosystem, investors gain access to the blockchains and assets that drive the industry, reducing the risk of concentrating on a small group of assets.
Helena Wedin, head of ETF and ETP services at European Markets Nasdaq, emphasized the Nasdaq exchange’s commitment to promoting innovation in a regulated and transparent market. The launch of Virtune’s new product represents a significant milestone for both investors and the broader digital asset ecosystem. The Virtune Stablecoin Index ETP is available to both institutional and retail investors, providing them with the opportunity to invest in the stablecoin industry through an exchange-traded product.
Growth of Stablecoins in Europe
Over the past year, stablecoins have seen rapid growth in adoption among financial institutions looking to use the token to provide their customers with 24/7 transactions and faster and cheaper cross-border transfer mechanisms. In Europe, the growth of stablecoins has paved the way for more banks to explore the possibility of launching their own stablecoin. Last September, nine European banks, including UniCredit, Banca Sella, DekaBank, and ING, announced plans to jointly launch a MiCA-compliant euro-backed stablecoin.
Currently, Euro-backed stablecoins represent only a small fraction of the larger $306 billion stablecoin market cap. According to data from CoinGecko, Euro stablecoins have generated a market capitalization of $606.6 million, with tokens such as Circles EURC (EURC), Stasis Euro (EURS), and EUR CoinVertible (EURCV) leading the way. The Virtune Stablecoin Index ETP is designed to capture value in the rapidly growing global stablecoin market, reflecting the growing role of blockchain infrastructure in global payments, banking, and digital commerce.
Composition of the Virtune Stablecoin Index ETP
The Virtune Stablecoin Index ETP is 100% physically backed by crypto assets safely stored in cold storage at Coinbase and is rebalanced quarterly. An annual administration fee of 1.95% is charged, and trades are accepted in SEK and EUR. As of November 4, the index allocation includes blockchains that host stablecoins, with 42.9% of allocated funds in Ethereum (ETH), 23.5% in XRP, 18.43% in Solana (SOL), 6.06% in Chainlink (LINK), 5.75% in Stellar Lumen (XLM), and around 3.36% of funds in the Aave (AAVE) blockchain.
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