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Virtune debuts Europe’s first stablecoin-focused ETP
Swedish crypto asset manager Virtune has launched the market's first stablecoin-centric exchange-traded product (ETP) on major European venues. Listed under multiple tickers—STABLE on Nasdaq Stockholm, STABLEE on Nasdaq Helsinki, and VRTN on Deutsche Börse Xetra—the Virtune Stablecoin Index ETP offers both retail and institutional investors streamlined exposure to the stablecoin ecosystem via a regulated exchange-traded product.
What the Virtune ETP tracks and why it matters
The Virtune Stablecoin Index ETP is constructed to capture the growth and infrastructure supporting stablecoins rather than holding stablecoins directly. Instead of storing USD- or euro-pegged tokens, the ETP holds crypto assets that underpin the stablecoin ecosystem—smart-contract platforms, oracle networks, and blockchains that host stablecoin issuance and settlement. According to Virtune’s documentation, the product is physically backed by crypto assets held in cold storage with Coinbase, rebalanced quarterly, and denominated in SEK and EUR.
This structure allows investors to benefit from the maturation of stablecoins across payments, cross-border transfers, and banking rails while avoiding concentration risk tied to a single token. By investing in an index that includes a range of protocols, the ETP spreads exposure across the broader stablecoin stack and the infrastructure tokens that facilitate issuance and on-chain flows.
Exchange listings, tickers and distribution channels
The new ETP is already trading across several regulated trading venues: Nasdaq Stockholm (STABLE), Nasdaq Helsinki (STABLEE) and Deutsche Börse Xetra (VRTN). It will be accessible to investors through brokers and banking platforms such as Avanza, Nordnet, SAVR, Scalable Capital, Smartbroker and Finanzen Zero, making it simple for European investors to add stablecoin infrastructure exposure to portfolios via familiar brokerage accounts.
Helena Wedin, Head of ETF and ETP Services at Nasdaq European Markets, emphasized that the listing promotes innovation within a regulated and transparent marketplace—an important signal as more traditional financial intermediaries weigh tokenized products.
Index composition and fees
As of the product launch, the Virtune index allocation favors several major blockchains and infrastructure tokens closely connected to stablecoin activity: Ethereum (42.9%), XRP (23.5%), Solana (18.43%), Chainlink (6.06%), Stellar (5.75%) and Aave (around 3.36%). This mix reflects where stablecoins are issued, traded and settled on-chain, plus the oracles and DeFi rails that support liquidity and programmability.
The ETP charges a 1.95% annual management fee. Virtune states the holdings are 100% physically backed and secured in Coinbase cold storage, with quarterly rebalancing to maintain the target index weights. Investors should note that although the product targets stablecoin sector exposure, it does not eliminate crypto market risk—underlying infrastructure tokens can remain volatile.
Institutional and retail uptake
Virtune designed the product for both retail and institutional participants. For institutions, the ETP provides a regulated wrapper to participate in stablecoin market growth without direct custody of fiat-pegged tokens. For retail investors, it offers a diversified route to gain exposure to stablecoin adoption trends—24/7 payment rails, faster cross-border settlement and bank-backed token initiatives—without needing to manage multiple stablecoin wallets.
Over the past year, stablecoins have gained momentum across banks and financial institutions in Europe. Several European banks announced collaborative plans for a MiCA-compliant euro-backed stablecoin, reflecting rising institutional interest in tokenized fiat and regulatory-compliant solutions. Despite broader growth, euro-pegged stablecoins still represent a small share of the global stablecoin market—data shows euro stablecoins amounting to hundreds of millions in market cap relative to the broader $300+ billion stablecoin sector.
Implications for investors and the crypto ecosystem
The Virtune Stablecoin Index ETP is significant for several reasons: it formalizes exposure to the stablecoin value chain in a regulated exchange format, broadens investor access through major European exchanges and broker platforms, and highlights the growing importance of blockchain infrastructure in traditional finance use cases. Investors seeking diversification into the tokenized payments stack now have a single ETP that encapsulates multiple blockchains and infrastructure tokens tied to stablecoin adoption.
That said, prospective buyers should evaluate the 1.95% fee, custody model, allocation strategy and the inherent volatility of infrastructure tokens before investing. For asset allocators watching tokenized fiat and central bank digital currency (CBDC) developments, the listing signals continued convergence between crypto-native rails and mainstream finance.
Bottom line
Virtune's Stablecoin Index ETP represents a milestone for European crypto products: a regulated, exchange-traded vehicle that gives investors diversified exposure to the blockchains and tokens enabling stablecoin growth. By listing across Nasdaq Stockholm, Nasdaq Helsinki and Deutsche Börse Xetra, Virtune has made it easier for European investors to track and invest in the stablecoin economy through familiar brokerage channels while relying on institutional custody with Coinbase.
Source: crypto
Comments
vaultrex
wow didn't expect a whole ETP just for stablecoin infrastructure, neat idea but that 1.95% fee stings, curious how they pick weights and rebalancing, risky tho
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