Swedish crypto asset management company Virtune announced the launch of the ETP Stablecoin Index on Nasdaq Stockholm, Nasdaq Helsinki and Deutsche Börse Xetra.
Summary
- Swedish regulated asset manager Virtune has launched Europe’s first stablecoin-focused exchange-traded product, the Virtune Stablecoin Index ETP.
- Backed by crypto assets held on Coinbase and listed on major European exchanges, the ETP reflects growing institutional and retail interest in stablecoins, which are increasingly being adopted by banks and financial institutions across Europe.
On November 5, the Swedish-regulated crypto asset manager introduced its stablecoin index exchange-traded product on European exchanges. Launched under the Bloomberg symbol STABLE, the physically-backed exchange-traded product offers investors exposure to a variety of blockchains and cryptoassets that provide the infrastructure and drive the adoption of stablecoins.
The stablecoin-focused ETP is described as “the first of its kind” in Europe, debuting as STABLE on Nasdaq Stockholm, Nasdaq Helsinki under the symbol STABLEE and Deutsche Börse Xetra under VRTN. Investors can access the product through various brokers and banks, including Avanza, Nordnet, SAVR, Scalable Capital, Smartbroker and Finanzen Zero.
By investing in an index that focuses exclusively on the stablecoin ecosystem, investors will gain exposure to blockchains and the assets that drive the industry. Not only that, it also reduces the risk of focusing on a small group of assets by casting the net broadly to the broader stablecoin market.
Helena Wedin, head of ETF and ETP services at European Markets Nasdaq, said the Nasdaq exchange is committed to fostering innovation within a regulated and transparent market. One of the ways is to introduce Virtune’s new product to the market.
“The launch of the Virtune Stablecoin Index underscores the strong momentum in the ETP space and represents an important milestone for both investors and the broader digital asset ecosystem,” Wedin said in his statement.
The Virtune Stablecoin Index ETP is available to institutional and retail investors, giving them the opportunity to invest in the stablecoin industry through an exchange-traded product.
Over the past year, stablecoins have seen increasing adoption by financial institutions eager to leverage the token to offer customers 24/7 transactions as well as faster and cheaper cross-border transfer mechanisms.
Specifically in Europe, the growth of stablecoins has paved the way for more banks to explore the possibility of launching their own stablecoin. Last September, nine European banks, including UniCredit, Banca Sella, DekaBank and ING announced plans to jointly launch a MiCA-compatible euro-backed stablecoin.
At the moment, euro-backed stablecoins represent only a small fraction of the $306 billion stablecoin market value. According data According to CoinGecko, euro stablecoins have generated $606.6 million in market cap, with tokens like Circle’s EURC (EURC), Euro Stasis (euros), and EUR CoinVertible (EURCV) leading the charge.
What is the Virtune Stablecoin Index ETP?
The ETP Virtune Stablecoin Index is intended to capture the value generated by the rapidly growing global stablecoin market. Although the ETP itself does not hold stablecoins, it is structured to benefit from this underlying growth, reflecting the growing role of blockchain infrastructure in global payments, banking and digital commerce.
According to the official Press releaseThe product is 100% physically backed by cryptoassets stored securely with Coinbase in cold storage and will be rebalanced quarterly. Not only that, it also carries a 1.95% annual management fee and accepts transactions in SEK and EUR.
As of November 4, the index’s allocation includes blockchains hosting stablecoins, with 42.9% of its allocated funds going to Ethereum (ETH), 23.5% in XRP, 18.43% distributed to Solana (SUN), 6.06% on Chainlink (LINK), 5.75% in stellar lumens (XLM) and about 3.36% of your funds go to Aave (GHOST) blockchain.
