XRP ETP Starts Trading On Nasdaq Stockholm As Of July 2

ETP XRP began trading on Nasdaq Stockholm as of July 2 (Photo; Doc. Bitcoinethereumnews)

JAKARTA - Nasdaq Stockholm, officially launched a new investment product in the form of Exchange-Trad Product (ETP) for XRP crypto assets. This product was presented by Swedish digital asset manager Virtune, who announced the debut of Virtune ETP XRP in an official statement on Tuesday.

This investment product aims to provide a new way for investors to take advantage of XRP's performance, the seventh largest crypto project with a valuation of more than 26.63 billion US Dollars (approximately IDR 436 trillion).

This newly launched ETP XRP is fully guaranteed and supported by 100% physical XRP tokens. Virtune teamed up with US leading exchange Coinbase, as their XRP reserve guard.

According to The Crypto Basic information, this XRP investment product is starting to be traded today, July 2, with a VIRXRP ticker. This product is aimed at the Nordic market and is valued in Swedish Krona currency (SEK). Investors can access it through the Avanza and Nordnet platforms.

Investors are charged an annual management fee of 1.49%. According to an official statement, this ETP XRP can be accessed by retail and institutional investors through various banks and brokers.

With this launch, Virtune joins a growing list of asset managers who present XRP investment products outside the United States. Previously, in February, European asset manager Valour launched the XRP ETP in the Nordic Growth Market. In addition, 21Shares has recorded the XRP ETP for half a decade.

In its announcement, Virtune highlighted XRP's unique value proposition as an optimized crypto asset for fast and cost-effective cross-border payments. The company noted that XRP excels over traditional banking systems by allowing transactions to be completed within seconds.

Virtune also recognizes that this proposition makes XRP an interesting solution for multinational transfers. The Swedish company also emphasizes that XRP has strong and dedicated community support and is supported by American fintech, Ripple.

Responding to the launch of XRP ETP, Virtune CEO Christopher Kock stated that this new product meets growing demand from investors looking for a safe way to invest in XRP.