Virtune, a regulated Swedish crypto asset manager, has listed the first exchange-traded products (ETPs) tied to cryptocurrencies on the Helsinki Stock Exchange. This significant launch offers Finnish investors an easy way to invest in crypto assets. As a CSD, Euroclear Finland maintains registers of shares and bonds and settles all trades and transfers of these securities.
Virtune brings crypto assets within reach of Finnish investors
With Virtune's ETP products, investors can invest in crypto assets as easily as stocks, integrating crypto investments into their traditional portfolios without the risks associated with direct investment in crypto assets and wallet management complexities.
Crypto assets in the ecosystem
Virtune's launch on Nasdaq Helsinki is a giant step towards a future where crypto assets are part of Finnish investors' everyday life. Euroclear Finland's role as an enabler and accelerator of the ecosystem has been in the core in achieving this goal. Securities trading is done on the stock exchange, but in practice, money and shares change ownership in the post-trade service provider, i.e., the securities depository, and in this case, Euroclear Finland.
Insights from Christopher Kock, CEO of Virtune
Can you tell us more about Virtune's background and your decision to list ETP products on Nasdaq Helsinki?
Virtune was founded in 2022 with the vision of becoming the leading crypto asset manager in the Nordics. Today, we have a total of 14 exchange-traded products in the market, and our products are owned by more than 140,000 investors across the Nordics, with total assets under management of €240 million.
We enable investors to invest in crypto as easily as buying a stock through our 100% physically backed exchange-traded products denominated in EUR and listed on Nasdaq Helsinki. We also aim to drive crypto adoption forward among financial institutions, financial advisors, and retail investors by focusing on education and transparency.
We offer 100% physically backed crypto ETPs, where we always store the equivalent value of the underlying crypto asset with our custodian, Coinbase, in cold storage. This ensures high investor protection and makes our ETPs suitable for long-term investors.
Since our inception, we have maintained a strong focus on the Finnish market, where we began conducting events and other market-related activities early on. We recognize that Finnish investors are highly advanced, with an already high adoption of investing in ETFs, with many seeking ways to integrate crypto investments into their traditional portfolios. By listing our products locally, we demonstrate our commitment to the Finnish investor community and, for the first time, enable Finnish investors to invest in locally listed crypto ETPs denominated in EUR.
How has trading started in Finland?
We are very happy with the initial reception in the Finnish market, where our ETPs have already attracted more than 3,000 investors and with steady net inflows. So far, our Virtune Bitcoin ETP and Virtune XRP ETP have garnered the most interest, with €5.7 million and €3 million in trading volume, respectively.
How do you see the future of cryptocurrencies and ETP products in Finland and the Nordics?
We believe that more investors are opening their eyes to crypto assets as an asset class and want to understand the benefits of adding crypto assets to their portfolios. This, along with the growing interest from institutions and financial advisors, signals a positive trend in the Nordics. We are convinced that most investors want to invest in crypto through regulated investment channels with their traditional brokerage account instead of needing to store their investment on a separate digital wallet or crypto exchange.
Recent surveys show that interest in crypto in Finland continues to surge, making it one of the highest in the Nordic countries. We aim to serve these investors who are seeking an easy and secure way to invest in crypto assets through locally listed products.
How does Virtune plan to develop its services and expand its offerings in the future in Finland?
We are fully committed to the Finnish market and will work towards expanding our product offering on Nasdaq Helsinki. We will also play an important role in educating the Finnish market about both crypto assets and the structure of exchange-traded products. We are excited to intensify our efforts in Finland through an enhanced physical presence, participation in events, interaction with traditional financial institutions, and, of course, further widening our distribution capabilities.
Would you like to add something else?
We are committed to adapting to the evolution and demands of the Finnish market on all fronts. Therefore, we are always open to feedback, requests, and any questions investors may have. We are also happy to arrange meetings to further present Virtune and the benefits of our ETPs.
