Helsinki exchange now trading Avalanche and Cardano funds

The recent launch on February 5 of cryptocurrency-based funds Avalanche (AVAX) and Cardano (ADA) trading on Nasdaq Helsinki, previously known as the Helsinki Stock Exchange, marks a significant development in the digital asset market.

These funds, listed on Nasdaq Helsinki as derivatives by the Swedish company Virtune, offer investors unique opportunities. The first fund, Virtune Avalanche, focuses on investing in AVAX, while the second, Virtune Staked Cardano, allows investors to invest in ADA and earn an additional 2% annual income through staking. These new listings come after successful testing on Nasdaq Stockholm and reflect the demands of ordinary and institutional investors for digital asset offerings.

One notable aspect of these newly listed funds is that the assets themselves, Avalanche and Cardano, are stored in the crypto storage of the American exchange Coinbase, rather than locally in Finland or Sweden. Despite this geographical distance, these derivatives are still available on the Finnish trading platform.

Notably, Cardano and Avalanche rank 9th and 12th in cryptocurrency capitalization, making them prominent players in the market. Virtune’s decision to develop exchange products based on these assets suggests a belief in their potential for growth and demand in comparison to more established digital assets like Bitcoin and Ethereum.

However, both Cardano and Avalanche have faced challenges in the crypto market this year. With ADA losing 30% of its value and AVAX falling by 39% in the past month, these assets are experiencing downward trends along with the broader crypto market.

Overall, the introduction of Avalanche and Cardano funds on Nasdaq Helsinki represents a notable shift in the availability of digital asset investment opportunities for Finnish investors. As blockchain technology and cryptocurrencies continue to gain traction globally, the addition of these funds to the Finnish exchange platform reflects a growing interest and demand for these innovative assets in traditional financial markets.