A new staked product for the cryptocurrency Cardano (ADA) has been introduced at Nasdaq Helsinki by Virtune, a Swedish digital asset manager. This marks a significant event for investors looking to earn staking income from ADA.
Virtune's New Staked Product for Cardano
The ETP, under the ticker VIRADAE, offers the opportunity to invest in ADA with 1:1 physical support, cold storage via Coinbase, and a 2% annual staking reward.
Significance for Investors and Crypto Market
The launch of this new ETP increases investor access to cryptocurrency-based products across Europe, solidifying Cardano’s position alongside other cryptocurrencies like Bitcoin, Ethereum, Solana, and XRP, which already have ETPs on Nasdaq Helsinki.
Current Price Situation and Prospects for Cardano
After recent downturns, Cardano's price is trading at $0.75. Short-term projections expect further declines, although the ETP launch provides positive prospects for longer-term recovery.
The launch of Virtune's Staked Cardano ETP on Nasdaq Helsinki is a significant step forward for ADA's adoption. While short-term market prospects remain volatile, institutional interest may provide the necessary support for future growth.
