Stockholm, 1st November 2023 - Virtune announces today that it has finalized the monthly rebalancing for its Virtune Crypto Top 10 Index ETP, listed on Nasdaq Stockholm for both the SEK-denominated (ISIN code SE0020052207, ticker name VIR10SEK) and the EUR-denominated (ISIN code SE0020052215, ticker name VIR10EUR) ETP.
Allocation as of 31st October (before rebalancing):
- Bitcoin 40.38%
- Ethereum 39,65%
- Polkadot 5.19%
- Litecoin 4.6%
- Stellar 3.96%
- Chainlink 3.55%
- Uniswap 2.67%
Allocation as of 1st November (after rebalancing):
- Bitcoin 40.00%
- Ethereum 40.00%
- Chainlink 5.29%
- Polkadot 4.87%
- Litecoin 4.66%
- Stellar 2.91%
- Uniswap 2.27%
In connection with this month's rebalancing, there is no change in the cryptocurrencies included in the Virtune Crypto Top 10 Index ETP SEK / EUR.
The rebalancing is carried out according to the index that the ETP follows, the Virtune Vinter Crypto Top 10 Index, and this is the sixth rebalancing since the product was listed on May 15th this year. The purpose of the frequent monthly rebalancing is to ensure that the ETP always reflects the current market conditions and to effectively absorb volatility in the cryptocurrency market.
The performance of Virtune Crypto Top 10 Index ETP SEK for October was +16.32%, resulting in a return of +14.36% since its listing on May 15th.
In October, the cryptocurrency market experienced strong growth, with Bitcoin showing an increase of 26%. Altcoins also had a positive trend, with several of them experiencing significant gains, such as Chainlink with a 38% increase.
Several companies, including BlackRock and Fidelity, have applied to launch Spot Bitcoin ETFs. With over $20 trillion in managed assets representing these applications, market expectations for approvals have risen. The decision day for approving Spot Bitcoin ETF applications at SEC is set for January 10, 2024. While approval of a U.S. Bitcoin ETF is expected, a rejection could negatively impact the market.
Bitcoin tends to attract capital inflows when there is increased global liquidity through economic stimulus, among other factors. Historically, previous Bitcoin halvings, which reduce the rate at which new Bitcoins are created by 50%, have been followed by price increases. The next halving is scheduled for April 2024.
The performance of the cryptocurrencies included in Virtune Crypto Top 10 Index ETP in October:
| Cryptocurrency | Performance during October 2023 |
| Chainlink | +38% |
| Bitcoin | +26% |
| Polkadot | +10% |
| Stellar | +6% |
| Ethereum | +6% |
| Litecoin | +3% |
| Uniswap | -11% |
Virtune's crypto index ETP is the first of its kind in the Nordic region. The ETP includes up to 10 leading cryptocurrencies that are part of the Nasdaq Crypto Index, based on their total market value, with a maximum weight of 40% per cryptocurrency to promote diversification. This allows investors to benefit from broad exposure to the cryptocurrency market without being heavily concentrated in any single currency.
If you, as an (institutional) investor, are interested in meeting Virtune to discuss the possibilities with our ETPs for your asset management/discretionary asset management offering, to learn more about Virtune and/or the company's ETPs, please do not hesitate to contact us at hello@virtune.com. You can also read more about Virtune and our ETPs on www.virtune.com and register your email address on our website to receive updates on Virtune's upcoming ETP launches and other news related to digital assets.
Press contact
Christopher Kock, CEO Virtune AB (Publ)
Christopher@virtune.com
+46 70 073 45 64
Virtune with its headquarters in Stockholm is a fully regulated Swedish digital asset manager and issuer of crypto exchange traded products on regulated European exchanges.
With regulatory compliance, strategic collaborations with industry leaders and our proficient team, we empower investors on a global level to access innovative and sophisticated investment products that are aligned with the evolving landscape of the global crypto market.
