"Virtune Launches Staked Cardano ETP on Nasdaq Helsinki"

Swedish asset manager Virtune has launched the world's second staked Cardano exchange-traded product (ETP), further expanding the range of crypto investment options available to investors. The new ETP, trading on Nasdaq Helsinki, offers exposure to Cardano (ADA), a major cryptocurrency with a market capitalization of $27 billion, according to CoinGecko data.

The Cardano ETP is physically backed 1:1 by the underlying asset, held in cold storage by Coinbase, Virtune's custodian. It is denominated in euros and available to Finnish investors through brokers and banks, including Nordnet. The ETP charges an annual management fee of 1.49% and incorporates a staking mechanism, allowing investors to earn an additional 2% annual return through staking rewards. These rewards are continuously added and reflected in the daily price of the ETP.

Virtune's entry into the Finnish market follows the successful launch of a batch of crypto ETPs on Nasdaq Helsinki in January 2023. The company debuted five products, including Virtune Bitcoin ETP (VIRBTCE), Virtune Staked Ethereum ETP (VIRETHE), Virtune XRP ETP (VIRXRPE), Virtune Staked Solana ETP (VIRSOLE), and Virtune Crypto Altcoin Index ETP (VIRALTE). These products marked the largest simultaneous crypto ETP launch on a regulated market in the Nordics' history and were the first regulated staked ETPs available to Finnish investors.

Virtune's staked Cardano ETP is the second such product following CoinShares' staked Cardano product launched in 2022. The growth of staked crypto ETPs has been hindered in the U.S. due to the Securities and Exchange Commission's (SEC) stance that crypto staking may be classified as securities. However, signs point towards a potential shift in 2025, as the SEC and Commodity Futures Trading Commission (CFTC) undergo leadership restructuring and regulatory changes.

The SEC is moving away from its "enforcement-over-guidance" approach, while the CFTC is set to unveil a restructuring of its enforcement division, including two new task forces aimed at better handling cases of fraud, manipulation, and other abuses. These changes could pave the way for