Nasdaq Stockholm, the leading stock exchange in the Nordic countries, has recently become the platform for a new XRP exchange-traded product (ETP) launch.
Virtune, a Swedish firm specializing in digital assets, announced on Tuesday the introduction of the Virtune XRP ETP on Nasdaq Stockholm. This financial instrument is designed to give investors exposure to XRP, which currently stands as the seventh-largest cryptocurrency by market capitalization, boasting over $26.63 billion.
**Trading Commences for Virtune XRP ETP on Nasdaq Stockholm**
The Virtune XRP ETP, which began trading on July 2 under the ticker VIRXRP, is noteworthy for being completely backed by actual XRP tokens, ensuring full collateralization. Virtune has collaborated with Coinbase, a prominent U.S. exchange, to safeguard its XRP holdings.
This investment vehicle, tailored for the Nordic region and quoted in Swedish kronor (SEK), is now available through financial platforms Avanza and Nordnet. An annual management fee of 1.49% is applicable to investors. The ETP is open to both individual and institutional investors via a range of banks and brokerage services.
Virtune’s move adds to the expanding roster of asset managers offering XRP investment products outside the U.S. Earlier in February, Valour introduced an XRP ETP in the Nordic Growth Market, while 21Shares has been offering a similar product for over five years.
**XRP ETP Addresses Growing Investor Interest**
In its declaration, Virtune highlighted the distinctive advantages of XRP as a cryptocurrency engineered for swift and economical international payments. XRP distinguishes itself from conventional banking systems by facilitating transactions in mere seconds, presenting an appealing option for global money transfers. Virtune also recognized the robust, dedicated community supporting XRP, as well as its association with the American fintech company Ripple.
Christopher Kock, CEO of Virtune, expressed that the new XRP ETP aligns with the rising investor interest in a secure investment avenue for XRP.
**Disclaimer:** This article is for informational purposes only and should not be taken as financial advice. The opinions expressed herein may be personal to the author and do not necessarily represent those of The Crypto Basic. Readers should conduct their own research before making any investment decisions. The Crypto Basic assumes no liability for any financial losses incurred.