New Crypto ETPs Launch in Finland, Featuring Avalanche and Cardano

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

This follows the recent release of five other crypto-related ETPs by the firm. The Cardano ETP offers 1:1 exposure to ADA along with an additional 2% annual staking return, while the Avalanche ETP mirrors its AVAX holdings. Both began trading on Nasdaq Helsinki after a debut on Nasdaq Stockholm.

CEO Christopher Kock explained that the launch was in response to growing demand from Finnish investors. The assets will be securely stored in cold storage with Coinbase as the custodian. The move further solidifies Virtune’s position in the Nordic market, following the earlier introduction of ETPs for Bitcoin, Ethereum, Solana, and XRP.

Avalanche and Cardano, ranked 12th and 9th by market cap, have been gaining traction, with some analysts predicting Cardano may experience a major rally after a significant price surge in late 2022.

The company’s Crypto Altcoin Index ETP, which includes a mix of assets like Solana and Chainlink, is also available, rebalanced monthly to reflect market movements.

Meanwhile, BlackRock is preparing to launch a Bitcoin ETP in Europe, signaling increased institutional interest in crypto assets.