Virtune’s Launch of XRP ETP on Nasdaq Stockholm Amplifies Investment Opportunities for Nordic Investors
Virtune has introduced a new opportunity for Nordic investors with its XRP Exchange-Traded Product (ETP) on Nasdaq Stockholm. This secure ETP, fully backed by physical XRP and in partnership with Coinbase, is now available to both institutional and retail investors, offering a competitive 1.49% management fee.
Following the recent surge in XRP holdings, where 19 banks disclosed investments totaling $10.27 billion, as reported by CNF, Virtune (AB) is now poised to cater to institutional investors seeking to capitalize on current and forthcoming ETPs for discretionary asset management.
In a recent tweet by Collin Brown, Nasdaq Stockholm enthusiastically welcomed the Virtune XRP ETP under the ticker VIRXRP. This launch is tailored specifically for Nordic investors trading in SEK. With Coinbase serving as custodian, Virtune ensures a robust investment vehicle that meets stringent security standards.
Christopher Kock, CEO of Virtune, expressed his excitement in a blog post, highlighting the significance of this launch as the first XRP ETP listed on Nasdaq Stockholm. The product’s innovation lies in its 100% physical backing with XRP stored securely by Coinbase, facilitating accessibility through various brokers and banks.
Amidst Goldman Sachs hedge fund clients injecting $2.8 trillion into XRP and other cryptocurrencies, driving prices to new highs, as previously reported by CNF, the surge in XRP’s price underscores the growing investor interest. As of the latest update, XRP trades at $0.48, reflecting positive growth of 0.12% over the past day and 1.40% over the past week.
The launch of Virtune’s XRP ETP on Nasdaq Stockholm, the largest stock exchange in the Nordic region, is expected to meet the diverse investment needs of regional investors. This move solidifies Virtune’s commitment to providing a secure and accessible avenue for investing in XRP amidst increasing demand.
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