Small Swedish manager launches crypto product on Swedish stock exchange

Swedish crypto asset manager Virtune launched the Virtune Zcash ETP, a physically backed exchange-traded product, on Nasdaq Stockholm on Tuesday.

”Today we’re pleased to introduce Virtune Zcash ETP, which makes it easy to gain exposure through online brokers such as Avanza and Nordnet,” says Virtune CEO Christopher Kock.

The product is 100% physically backed by Zcash held in cold storage with Coinbase, and it carries an annual fee of 1.49%. Zcash is a payments blockchain that lets users shield transaction details, and its native crypto asset, ZEC, is used for payments.

Virtune is a Swedish asset manager authorized by the Financial Supervisory Authority, with about USD 380m in assets under management and more than 160,000 investors.”

(This article is provided by AMWatch’s sister media in Sweden, FinansWatch)

English edit by Daniel Frank Christensen