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, VIRADAE’s 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 ETP’s 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 Coinbase’s cold storage.
Virtune tailored the Cardano ETP for European investors, focusing on those residing in Finland by denominating the product in euros (EUR).
Virune’s 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 Virtune’s 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 ADA
In 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.
Despite ADA’s recent underperformance, prominent market observer Ali Martinez referenced the asset’s historical data to forecast a ‘monster parabolic rally.’ According to Martinez, this monster rally could take Cardano’s price to $15 per token, marking a surge of 1,904% from the current price.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
