Swedish company Virtune AB announced the launch of a new exchange-traded product linked to Cardano (ETP), now available on Nasdaq Helsinki.
Launch of Cardano ETP
Virtune AB, a Swedish asset management firm, has introduced VIRADAE, a product offering 1:1 exposure to Cardano (ADA). This product is listed on Nasdaq Helsinki and is fully backed by ADA.
Staking Details and Return
The purchase of the product offers an additional annual return of 2% from staking rewards. These rewards are continuously added to the product's daily price, providing an opportunity for passive income for investors.
Opportunities in the US Market
With improving crypto regulations in the US, new ETF products tracking Cardano are expected to emerge. In the US, only Tuttle Capital has filed for a 2X Long Cardano Daily Target ETF so far.
The launch of Virtune's new ETP opens new opportunities for investors and may stimulate interest in Cardano in European and American markets.
