Virtune announces today the completion of the monthly rebalancing of its Virtune Crypto Top 10 Index ETP, listed on Nasdaq Stockholm for SEK-denominated (ISIN code SE0020052207, ticker name VIR10SEK) and EUR-denominated (ISIN code SE0020052215, ticker name VIR10EUR) ETP.
Before rebalancing, on the 31st of October, the allocation was as follows: Bitcoin 40.38%, Ethereum 39.65%, Polkadot 5.19%, Litecoin 4.6%, Stellar 3.96%, Chainlink 3.55%, Uniswap 2.67%. After rebalancing, on the 1st of November, the allocation is: Bitcoin 40.00%, Ethereum 40.00%, Chainlink 5.29%, Polkadot 4.87%, Litecoin 4.66%, Stellar 2.91%, Uniswap 2.27%.
The rebalancing was done according to the Virtune Vinter Crypto Top 10 Index and is the sixth rebalancing since the product was listed on 15th of May this year. Its purpose is to effectively absorb volatility in the cryptocurrency market and to ensure that the ETP always reflects the current market conditions.
In October, the Virtune Crypto Top 10 Index ETP SEK had a performance of +16.32% and a return of +14.36% since its listing on 15th of May. The cryptocurrency market experienced strong growth, with Bitcoin increasing by 26% and Chainlink by 38%.
The decision day for Spot Bitcoin ETF applications at SEC is set for 10th of January 2024. While approval of a U.S. Bitcoin ETF is expected, a rejection could negatively affect the market. In addition, Bitcoin tends to draw capital inflows when there is increased global liquidity through economic stimulus. The next halving is scheduled for April 2024.
The cryptocurrencies included in the Virtune Crypto Top 10 Index ETP and their performance in October are as follows: Chainlink (+38%), Bitcoin (+26%), Polkadot (+10%), Stellar (+6%), Ethereum (+6%), Litecoin (+3%) and Uniswap (-11%).
Virtune Crypto Top 10 Index ETP is the first of its kind in the Nordic region. It allows investors to benefit from broad exposure to the cryptocurrency market without being heavily concentrated in any single currency, as each cryptocurrency has a maximum weight of 40%.
If you’re an investor interested in Virtune and their ETPs, please contact them at firstname.lastname@example.org. You can also read more about Virtune and their ETPs on www.virtune.com and register your email address to receive updates.
Christopher Kock, CEO Virtune AB (Publ)
+46 70 073 45 64
Virtune is a Swedish digital asset manager and issuer of crypto exchange traded products on regulated European exchanges. With regulatory compliance, strategic collaborations with industry leaders and its proficient team, Virtune empowers investors on a global level to access innovative and sophisticated investment products that are aligned with the evolving landscape of the global crypto market.