By Darren Parkin
Virtune – Sweden’s regulated digital asset manager – has announced it will be listing the first physically-backed multi-asset crypto ETP on Nasdaq Stockholm.
The ETP tracks Virtune Vinter Crypto Top 10 Index (VTOP10) built by the nation’s BMR index provider Vinter.
Being physically backed means all constituents in the ETP are fully collateralised with the underlying crypto assets. The VTOP10 Index provides exposure to 85% of the crypto market by investing in the top 10 crypto assets by market capitalisation.
Its rule-based approach allows Virtune to rebalance the index on a monthly basis and provide a dynamic exposure should new coins enter the index.
The index has a 40% maximum cap per constituent to improve diversification.
The VTOP10 ETP will be offered to both retail and institutional investors and can be traded exactly like a regular securities on the regulated market of the Nasdaq Stockholm exchange.
The launch of this joint Vinter and Virtune collaboration marks an important milestone in the Nordic crypto landscape.
Commenting on the partnership, Jacob Lindberg, CEO of Vinter, said: “Introducing the launch of the all Swedish newest product in collaboration with Virtune has been long awaited in the Swedish crypto community and VTOP10 will be the first multi asset crypto ETP to list on Nasdaq Stockholm. VTOP10 provides investors with an efficient and cost-effective way to gain exposure to the most valuable crypto assets.”
Virtune co-founder and CEO Christopher Kock, said he and his colleagues were thrilled to work with Vinter and provide investors with access to cryptocurrencies in a regulated and secure manner.
“We believe and are confident that the ETP will provide an attractive investment opportunity for investors seeking exposure to the crypto market, notably as an entry product for private investors as well as for high net-worth clients and institutional investors in the Nordics,” he said.
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