Virtune AB (Publ) has completed the monthly rebalancing for July 2023 of Virtune Crypto Top 10 Index ETP, the first crypto index ETP in the Nordics.
Virtune announces today that it has completed the monthly rebalancing for July 2023 for the Virtune Crypto Top 10 Index ETP listed on Nasdaq Stockholm Stock Exchange for both the SEK variant (ISIN code SE0020052207, ticker name: VIR10SEK) and the SEK variant (ISIN code SE0020052207, ticker name: VIR10SEK). VIR10SEK ) and the EUR variant (ISIN code SE0020052215, ticker name VIR10EUR ).
Distribution before rebalancing on July 31:
– Ethereum 40.27%
– Bitcoin 38.41%
– Polkadot 5.13%
– Litecoin 4.95%
– Chainlink 3.4
– Stellar 2.91%
– Uniswap 2.65%
– Bitcoin Cash 2.28%
Distribution after rebalancing on July 31:
– Bitcoin 40
– Ethereum 40
– Litecoin 4.53%
– Polkadot 4.36
– Bitcoin Cash 3.18%
– Chainlink 2.83%
– Stellar 2.75
– Uniswap 2.31%
The rebalancing is done according to the index that the ETP follows, the Virtune Vinter Crypto Top 10 Index and this is the third 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 current market conditions and to be able to absorb volatility in the crypto market effectively.
Virtune Crypto Top 10 Index ETP’s performance for July resulted in -3.95% and +8.18% since its listing on May 15.
The two largest cryptocurrencies, Bitcoin and Ethereum, which represent about 80% of the holdings in Virtune Crypto Top 10 Index ETP, showed a negative development in July. Three of the smaller holdings, Stellar, Uniswap and Chainlink, which together represent less than 10% of the portfolio, showed significant positive developments. This highlights the importance of having a diversified exposure to the crypto market.
The performance of the cryptocurrencies included in the Virtune Crypto Top 10 Index ETP in July:
– Stellar: +38.91%
– Uniswap: +23.43%
– Chainlink: +20.77%
– Ethereum: -3.29%
– Polkadot: -3.78%
– Bitcoin: -4.04%
– Bitcoin Cash: -15.91%
– Litecoin: -17.15
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 capitalization and has a maximum weight of 40% per cryptocurrency to promote diversification. This allows investors to benefit from a broad exposure to the crypto market without being highly concentrated in any single currency.
