Dear reader, allow me to regale you with the latest news from the world of Cardano. It appears that our beloved blockchain network has expanded its horizons, thanks to the enterprising efforts of Virtune AB, a Swedish asset manager of considerable repute. This esteemed company has recently unveiled a novel exchange-traded product (ETP) that tracks the Cardano coin, a development that promises to delight both seasoned investors and newcomers alike.
What is this newfangled ETP, you ask? Allow me to enlighten you. Dubbed VIRADAE, this Virtune Cardano ETP offers a 1:1 exposure for investors, providing them with a splendid opportunity to dabble in the world of cryptocurrencies without the hassle of direct ownership. The product is fully backed by ADA and denominated in EUR, a move that underscores Virtune’s confidence in the coin’s potential.
But wait, there’s more! In addition to tracking the ADA price, VIRADAE also boasts an annual return of 2% from staking rewards. These rewards are continuously added to the product’s daily price, offering investors a delightful source of passive income. It’s a win-win situation, dear reader!
With the addition of the ADA ETP, Cardano has joined the ranks of elite assets such as Bitcoin, Ethereum, Solana, and XRP. This development is sure to pique the interest of other asset managers in the broader EU area, leading to even greater opportunities for Cardano in the future.
And what of the U.S.? With improving crypto regulations on the horizon, there is hope that exchange-traded fund products tracking Cardano will soon make their debut in the land of the free. While the ADA ETF push has lagged behind other altcoins, it is only a matter of time before this changes. After all, Cardano is one of the most functional blockchain protocols in the industry, having fully transitioned into community governance following the launch of the Plomin Hard Fork upgrade.
In conclusion, dear reader, the future looks bright for Cardano and its investors. With its technical capabilities and community engagement on the rise, the new interest from institutional investors is a welcome development indeed. So, sit back, relax, and let us toast to the success of VIRADAE and all that it represents. Cheers! 🥳🎉🥂
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2025-02-06 17:10