The first XRP-ETP on the Scandinavian market has been introduced in Sweden

It is already listed on the Nasdaq Stockholm stock exchange under the ticker VIRXRP. It can be purchased by local investors for Swedish krona.

The company said that Virtune XRP charges an annual management fee of 1.49%. The exchange-traded product is also 100% physically backed, which ensures that each unit of ETP is backed by an equivalent amount of XRP.

This innovative product is 100% physically backed by XRP, which is held in our Coinbase custodian, and is available to both institutional and retail investors through multiple brokers and banks," said Virtune CEO Christopher Kok.

He also stated that the launch of the new investment product will give Nordic investors greater access to digital assets. In addition, XRP-ETP will be attractive to investors who want to invest in cryptocurrency without having to buy and store the asset.

In addition to the recently launched XRP-ETP, Virtune offers Nordic investors access to ten other cryptocurrency-related products: ETP Virtune Bitcoin, ETP Virtune Arbitrum', ETP Virtune Chainlin