Stockholm, 6th September 2023 - Virtune announces today that it has finalized the monthly rebalancing for its Virtune Crypto Top 10 Index ETP, listed on Nasdaq Stockholm for both the SEK-denominated (ISIN code SE0020052207, ticker name VIR10SEK) and the EUR-denominated (ISIN code SE0020052215, ticker name VIR10EUR) ETP.
Allocation before rebalancing on 31st August:
- Bitcoin 41.33%
- Ethereum 40.80%
- Polkadot 4.23%
- Litecoin 3.67%
- Bitcoin Cash 3.15%
- Chainlink 2.48%
- Stellar 2.45%
- Uniswap 1.89%
Allocation after rebalancing on 5th September:
- Ethereum 40.06%
- Bitcoin 39.63%
- Polkadot 5.46%
- Litecoin 4.81%
- Stellar 3.72%
- Chainlink 3.54%
- Uniswap 2.77%
A significant change in connection with the rebalancing is that Bitcoin Cash is being excluded from the index since it no longer meets the requirements for total market capitalization in the Nasdaq Crypto Index. This means that the index now consists of a total of seven cryptocurrencies.
The rebalancing is done according to the index that the ETP tracks, Virtune Vinter Crypto Top 10 Index, and this is the fourth rebalancing since the product was listed on May 15th of this year. The purpose of the frequent monthly rebalancing is to ensure that the ETP always reflects current market conditions and to be able to absorb volatility in the crypto market effectively.
Virtune Crypto Top 10 Index ETPs had a performance of -9.36% in August and -3.51% since the listing on May 15th.
In August 2023, the cryptocurrency market experienced a mixed month. Several leading cryptocurrencies, such as Bitcoin and Ethereum, faced a general downward trend in their prices. This decline may have been influenced by a variety of factors, including market sentiment, and macroeconomic conditions.
However, it's essential to note that the crypto market is known for its volatility, and price fluctuations are relatively common. Investors in cryptocurrencies continue to closely monitor developments in the industry, including technological advancements, regulatory changes, and adoption by mainstream financial institutions including BlackRock’s filing for listing a spot Bitcoin ETF (Exhange Traded Fund).
The performance of the cryptocurrencies included in Virtune Crypto Top 10 Index ETP in August:
| Cryptocurrency | Performance during August 2023 |
| Bitcoin | -11.20% |
| Ethereum | -11.30% |
| Bitcoin Cash | -15.80% |
| Polkadot | -16.40% |
| Chainlink | -22.10% |
| Stellar | -23.20% |
| Litecoin | -30.70% |
| Uniswap | -33.00% |
Virtune's crypto index ETP is the first of its kind in the Nordic region. The ETP includes up to 10 leading cryptocurrencies that are part of the Nasdaq Crypto Index, based on their total market value, with a maximum weight of 40% per cryptocurrency to promote diversification. This allows investors to benefit from broad exposure to the cryptocurrency market without being heavily concentrated in any single currency.
If you, as an (institutional) investor, are interested in meeting Virtune to discuss the possibilities with our ETPs for your asset management/discretionary asset management offering, to learn more about Virtune and/or the company's ETPs, please do not hesitate to contact us at hello@virtune.com. You can also read more about Virtune and our ETPs on www.virtune.com and register your email address on our website to receive updates on Virtune's upcoming ETP launches and other news related to digital assets.
Press contact
Christopher Kock, CEO Virtune AB (Publ)
Christopher@virtune.com
+46 70 073 45 64
Virtune with its headquarters in Stockholm is a fully regulated Swedish digital asset manager and issuer of crypto exchange traded products on regulated European exchanges.
With regulatory compliance, strategic collaborations with industry leaders and our proficient team, we empower investors on a global level to access innovative and sophisticated investment products that are aligned with the evolving landscape of the global crypto market.
