Swedish crypto asset management company Virtune has launched a cryptocurrency index ETP, STABLE, on exchanges such as Nasdaq

According to Globenewswire, the Swedish regulated crypto asset management company Virtune announced the launch of the Virtune Cryptocurrency Index ETP (STABLE) on Nasdaq Stockholm, Nasdaq Helsinki, and Deutsche Börse Xetra. This product is the first exchange-traded product in Europe focused on the stablecoin ecosystem, providing institutional and retail investors with diversified exposure to stablecoin infrastructure and blockchain.

The product is 100% backed by underlying crypto assets stored in Coinbase cold wallets, with an annual management fee of 1.95% and quarterly rebalancing. As of November 4, the index allocation includes: Ethereum 42.9%, XRP 23.5%, Solana 18.43%, Chainlink 6.06%, Stellar Lumen 5.75%, and Aave 3.36%.