Now, investment in Cardano ($ADA) for retail & institutional investors is available in the jurisdiction of Finland and Sweden via exchange-traded products.
Cardano is a popular Ethereum rival blockchain network, founded by one of the Ethereum co-founders, Charles Hoskinson, in 2017. Since the origin of this project, Hoskinson never allowed direct entry of institutional investors so that the distribution of Cardano’s native token could be done without partiality.
On 5 Feb 2025, Swedish digital asset manager Virtune launched the Virtune Staked Cardano ETP (Exchange-Traded Product) on Nasdaq Helsinki. This new product is now trading under the ticker $VIRADAE.
This exchange-traded product provides investors with 1:1 physical backing of Cardano (ADA) and also offers an annual staking reward of 2%. Safety is ensured through cold storage solutions provided by top American crypto exchange Coinbase.
Is Cardano spot ETF in the USA coming?
It means this Crypto ETP product not only provides exposure to $ADA coin but also provides the ability to generate staking rewards by holding the invested ETP product.
Many Crypto experts noted that the launch of this ETP marks a significant milestone for the Cardano blockchain. As this crypto ETF product is now listed on Nasdaq Helsinki, it is natively available for Finland and Sweden-based investors, although people from other jurisdictions also invest in it if their international brokerage firms or financial advisors determine the feasibility of investing in this product.
Here, Virtune’s crypto ETF is not limited to Cardano; they have also launched an Avalanche (AVAX) ETP under the ticker $VIRAVAXE.
Earlier this, Virtune succeeded in launching Virtune Bitcoin ETP ($VIRBTCE), Virtune Staked Solana ETP ($VIRSOLE), Virtune Staked Ethereum ETP ($VIRETHE), Virtune XRP ETP ($VIRXRPE), Virtune Crypto Altcoin Index ETP ($VIRALTE).
Is Cardano spot ETF in the USA coming?
Following the launch of Cardano exchange-traded products on Nasdaq Helsinki, the majority of the Cardano enthusiasts started talking about the increasing institutional demand for $Ada coin in the United States & exploring the landscape for Cardano-focused ETF products.
To date, no spot ADA ETF applications are pending review with the U.S. Securities and Exchange Commission (SEC). However, Tuttle Capital Management has filed with the SEC to launch the first exchange-trade Tuttle Capital Management’s application for a 2x leveraged Cardano (ADA) ETF, but this application is in pending status with the SEC body.
$ADA coin unregistered security token?
However, $ADA coin distribution & community based decentralized control on the Cardano blockchain makes it a much better crypto project, after Bitcoin & Ethereum in the whole crypto space, but still, in the past, the SEC body labelled $ADA coin as an unregistered security token in multiple enforcement actions against crypto companies.
Here, this is not a problem with only this Cryptocurrency; already, many Cryptocurrencies were labelled as unregistered securities by the SEC body in lawsuits against crypto trading exchanges.
Just a day ago, the SEC body acknowledged a spot ETF product application linked with Solana ($SOL), which was also labelled as an unregistered security token.
So here we can conclude that it is just a matter of time & here we should be optimistic about the future developments around this space, as the leadership of the SEC body is now changing under the presidency of Donald Trump.
Read also: First Time the US SEC Acknowledges Solana Spot ETF!
