Virtune launches first Stablecoin Index ETP in Europe
Swedish crypto asset manager Virtune has launched Europe’s first stablecoin-focused exchange-traded product (ETP), the Virtune Stablecoin Index ETP, on major European exchanges like Nasdaq Stockholm, Nasdaq Helsinki, and Deutsche Börse Xetra. The product, listed under the ticker STABLE, offers investors exposure to the broader stablecoin ecosystem, including blockchains and assets supporting stablecoins, without directly holding stablecoins. It is 100% physically backed by crypto assets stored with Coinbase and rebalanced quarterly. This launch reflects the growing adoption of stablecoins in Europe, driven by banks and financial institutions, and underlines the development of blockchain infrastructure in global finance. The ETP aims to cater to both institutional and retail investors, with its allocation including Ethereum (ETH), XRP, Solana (SOL), Chainlink (LINK), Stellar Lumen (XLM), and Aave (AAVE).
Decentralized Lending
Oracles
Decentralized Payments
Introduction to Virtune's Stablecoin Index ETP
Swedish crypto asset management company Virtune announced the launch of the Stablecoin Index ETP on major European exchanges, including Nasdaq Stockholm, Nasdaq Helsinki, and Deutsche Börse Xetra. This marks the introduction of Europe’s first stablecoin-focused Exchange-Traded Product (ETP), showcasing the growing institutional and retail interest in stablecoins across the region.
Details and Ticker Information
On November 5, Virtune unveiled the Virtune Stablecoin Index ETP, which is launched under the Bloomberg ticker STABLE. The ETP is physically backed by crypto assets and reflects the adoption and infrastructure development of stablecoins. It is listed with different tickers for various exchanges: STABLEE on Nasdaq Stockholm and Nasdaq Helsinki, and VRTN on Deutsche Börse Xetra. Investors can trade the product through brokers and banks, including Avanza, Nordnet, SAVR, Scalable Capital, Smartbroker, and Finanzen Zero.
Advantages of the Stablecoin Index ETP
The Virtune Stablecoin Index ETP offers exposure to a wide variety of blockchains and crypto assets driving the stablecoin ecosystem. By diversifying investments across the entire stablecoin market, the product mitigates risks associated with focusing on a small subset of assets. This broader scope positions investors to benefit from the growing role of stablecoins in financial infrastructure.
Nasdaq's Perspective on the Launch
Helena Wedin, Head of ETF and ETP Services at European Markets Nasdaq, emphasized supporting innovation within a regulated and transparent marketplace. According to her, the launch of Virtune’s new product highlights strong momentum in the ETP space and represents a milestone for investors as well as the broader digital asset ecosystem.
Stablecoin Adoption and Growth in Europe
Over the past year, stablecoins have seen rapid adoption by financial institutions for 24/7 transactions and faster, cheaper cross-border transfers. In September, nine European banks, including UniCredit, Banca Sella, and DekaBank, announced plans to launch a euro-backed stablecoin compliant with MiCA regulations. Despite these developments, euro-backed stablecoins represent only a small portion of the $306 billion stablecoin market, with a total market cap of around $606.6 million.
Structure and Allocations of the Virtune Stablecoin Index ETP
The Virtune Stablecoin Index ETP is structured to reflect the stablecoin market's underlying growth. It is 100% physically backed by crypto assets, stored securely in Coinbase cold storage, and rebalanced quarterly. The allocation as of November 4 includes:
- Ethereum (ETH): 42.9%
- XRP: 23.5%
- Solana (SOL): 18.43%
- Chainlink (LINK): 6.06%
- Stellar Lumen (XLM): 5.75%
- Aave (AAVE): 3.36%
The product carries an annual management fee of 1.95% and supports trade in SEK and EUR.