Virtune, a Swedish crypto asset manager, released the products (ETPs) traded on the new stock market that provides easy access to Avalanche (AVAX) and Cardano (Island) in Finland. Christopher Kock, CEO of Virtune, pointed to increasing demand and described the new Altcoin ETPs as time. Reports say that Finite investors are looking for easy ways to invest in crypto assets.
Virtune, 2 Altcoin for ETP: Avax and Ada
Virtune Avalanche ETP directly follows the price of Avax, Avalanche’s local token. Meanwhile, Virtune Stake Cardano ETP monitores the price of the island and provides access to an annual 2 %ratio. Coinbase is the management of both products. ETPs are already available in Nasdaq Stockholm. This is not the first time to discover Virtune’s crypto ETPs. The company recently launched five new crypto ETPs, including an index that follows multiple subcoin price.
ETP is a kind of investment product that allows people to invest in the crypto without having to buy and store real coins themselves. It works like a normal stock that users can buy and sell them on a stock market.
Crypto ETF race is hot
Kriptokoin.comAs you have followed, Virtune is not the only company to release crypto investment products. Blackrock, the world’s largest asset manager, is preparing to present a Bitcoin ETP in Europe. Many experts believe that Bitcoin ETFs and ETPs can bring billions of dollars to the crypto market.
Most crypto users see it as a tool for adopting more mainstream. While the crypto becomes more attractive, these products are a good choice for users who do not want to buy and store crypto. Companies like Blackrock make everyone interested in crypto.
Safety and Market Effect
Assets that support these ETPs are safely stored in cold storage warehouses through Coinbase to provide maximum security for investors. This launch also strengthens Finland’s growing crypto investment market. The country’s ETP market of 20.5 billion euros is becoming more open to crypto products with a change in investor preference.
Avalanche and Cardano ranks 12th and 9th among all crypto currencies according to the market value. In addition, Cardano attracted great attention among analysts. Experienced Trader Peter Brandt estimated that the island has entered the big bull market. The island reached $ 1.33, the highest level of the last three years with a leap of 88.8 %between November 18 and December 3.
