Overview
- The ETP began trading on Nov. 5 under Bloomberg ticker STABLE, with exchange tickers STABLE (Stockholm), STABLEE (Helsinki) and VRTN (Xetra).
- It is 100% physically backed with underlying assets held in Coinbase cold storage and is set to rebalance quarterly.
- The product charges a 1.95% annual fee, trades in SEK and EUR, and is accessible through brokers including Avanza, Nordnet, SAVR and Scalable Capital.
- The index does not hold stablecoins and currently allocates 42.90% to Ethereum, 23.50% to XRP, 18.43% to Solana, with smaller weights in Chainlink, Stellar and Aave.
- Virtune describes the launch as its 20th ETP and Europe’s first stablecoin-focused ETP, a move welcomed by Nasdaq officials.