Amsterdam, September 25, 2024 — Virtune, a regulated Swedish digital asset manager and issuer of crypto exchange-traded products (ETPs) headquartered in Stockholm, is expanding to the Netherlands with the listing of Virtune Staked Solana ETP on Euronext Amsterdam.
With strong growth and steady inflows in the Nordic region, driven by increasing interest and acceptance of crypto assets, this expansion marks a strategic milestone for Virtune.
Since its inception in May 2023, Virtune has rapidly grown in the Nordics, listing a total of 12 products and reaching over 31,000 investors in just over a year.
Key success factors have included a focus on education, a transparent market strategy, and the company's regulated status. This expansion not only meets the growing investor interest but also strengthens Virtune's market presence in Europe.
Virtune Staked Solana ETP:
- Exposure to Solana with an additional 3% annual yield through staking
- 0.95% annual management fee
- 100% physically backed by SOL
- Non-custodial staking
Product Information:
- Bloomberg Ticker: VIRSOL
- ISIN: SE0021309754
- Exchanges: Nasdaq Stockholm, Euronext Amsterdam, Euronext Paris
Virtune uses Coinbase as custodian, where the underlying SOL tokens are stored with the highest institutional security level in cold-storage (offline). The underlying SOL tokens are staked directly from cold-storage, and the staking rewards are reflected in the price of the ETP.
Christopher Kock, CEO of Virtune:
“We are very pleased to expand to the Netherlands through the listing of Virtune Staked Solana ETP on Euronext Amsterdam after a successful launch in the Nordics. Since our inception in May 2023, we have worked hard to drive adoption for crypto assets through educational efforts in the Nordics, and we look forward to extending these efforts to the Dutch financial market. This ETP provides investors with exposure to Solana, one of the leading and most influential blockchains globally, while including staking which improves the performance of the product.”
About Virtune AB (Publ)
Virtune is a registered financial institution with the Swedish Financial Supervisory Authority and has an approved EU base prospectus, renewed by the Financial Supervisory Authority on April 5, 2024, enabling Virtune’s strategy to list ETPs on regulated European exchanges. Virtune’s mission is to provide seamless access to crypto assets for both institutional and private investors through innovative crypto ETPs, transparency, and education.
Virtune offers a wide range of crypto ETPs, including Virtune Bitcoin ETP, Virtune Staked Ethereum ETP, Virtune Staked Solana ETP, Virtune Crypto Top 10 Index ETP, Virtune XRP ETP, Virtune Chainlink ETP, Virtune Avalanche ETP, Virtune Staked Polkadot ETP, Virtune Staked Polygon ETP, Virtune Arbitrum ETP, and Virtune Staked Cardano ETP.
About Solana
Solana is a high-performance blockchain platform designed to enable fast and scalable decentralized applications and crypto transactions. Utilizing a unique consensus mechanism called Proof of History (PoH) along with Proof of Stake (PoS), Solana can handle thousands of transactions per second at low transaction costs, a significant improvement over older blockchains like Bitcoin and Ethereum. This combination of technologies not only allows for instant transaction verification but also significantly increases network throughput without compromising security or decentralization.
About Staking
Staking enables crypto asset owners to earn passive income by participating in the validation and confirmation of transactions on a blockchain through a process known as Proof of Stake. This mechanism is a fundamental part of Proof of Stake blockchains, such as Ethereum and Solana, and plays a crucial role in ensuring the security and authenticity of blockchain transactions. To conduct a transaction on the blockchain securely and correctly, a validator must stake a certain amount of crypto assets as a guarantee of the transaction's legitimacy.
Validators aim to stake as much crypto assets as possible to increase the chance of obtaining rewards, which are paid out in the same type of crypto asset that was staked. The annual reward percentage for staking can vary and may range from 0% to 14% or higher for some blockchains. Most crypto asset owners cannot act as validators themselves because it requires large amounts of crypto assets. Therefore, many choose to stake their assets through an established and trustworthy validator. Virtune includes staking rewards in its products that have "staked" included in their names.
Stockholm, 25th of September 2024
For further inquiries, please contact:
Christopher Kock, CEO & Member of the Board of Directors
Email: hello@virtune.com
About Virtune AB (Publ)
Virtune with its headquarters in Stockholm is a 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.
Cryptocurrency investments are associated with high risk. Virtune does not provide investment advice. Investments are made at your own risk. Securities may increase or decrease in value, and there is no guarantee that you will recover your invested capital. Please read the prospectus, KID, terms at www.virtune.com.
