Stablecoin ETP: buying infrastructure exposure

Buying stablecoin infrastructure through a broker

Virtune Stablecoin Index ETP gives exposure to crypto-assets connected to stablecoin issuance and payment infrastructure. It holds no stablecoins and does not provide a stable value. At a broker offering the product, you can hold that infrastructure theme through one listed security.

Why does stablecoin infrastructure matter?

Stablecoins bring a currency reference, often the US dollar, into blockchain transactions. They can move between digital wallets even when banks are closed, making them relevant to cross-border payments and settlement. A business receiving a dollar-linked stablecoin receives a token intended to follow the dollar. What stablecoins are explains the tokens and how they maintain that reference.

The payments still need infrastructure. For example, sending a stablecoin on Ethereum uses the network, and its transaction fee is paid in ETH. The stablecoin and the crypto-asset supporting its network have different roles.

The ETP follows the Virtune Stablecoin Index, which focuses on crypto-assets associated with stablecoin issuance and infrastructure under the index methodology. It is an investment in those assets, rather than a place to hold digital dollars. Their prices also reflect other uses and market conditions.

Why hold this theme through an ETP?

The product brings the index's selected assets into one investment at a broker. Virtune handles custody and the index's quarterly selection review, so you do not need separate crypto holdings or wallets for its components.

Virtune holds the underlying assets with a custodian as collateral for the ETP. You own the listed security, which follows the infrastructure index. It is not a stablecoin, a stablecoin ETF or a fund, and it cannot be redeemed for a payment stablecoin. How crypto index ETPs work explains what an index holding involves.

How to find the ETP at a broker

The product can be found by its full name or ISIN on the broker's platform. The order page shows the listing, trading currency, buy and sell prices and the broker's charges. An exchange listing does not mean every broker offers it, so the product page provides the available broker routes.

The product's ISIN is SE0026821282. It trades as VRTN on Xetra, STABLE on Nasdaq Stockholm and STABLEE on Nasdaq Helsinki. These are three listings of the same security.

The Stablecoin Index product page shows available brokers and current holdings, so you can see both the access route and the assets behind the index.

Account availability and tax treatment depend on your country and account type. The crypto ETP buying guide explains the general purchase process.

Costs of the index investment

The management fee is deducted from the product's value over time. A broker may also charge commission and currency conversion, and the difference between the buy and sell prices is the spread. These are separate costs, so the management fee alone does not describe the full cost of holding the ETP.

Costs when buying Virtune Stablecoin Index ETP

Cost	Charged by	When
Brokerage commission	Broker	On every purchase and sale
Difference between bid and ask price	Market	On every trade
Management fee, 1.95% per year	Issuer	Ongoing, from the product's value
Currency conversion	Broker, if applicable	If the product trades in another currency

Risks to understand

An index can contain several crypto-assets and still fall sharply. The assets can move in the same direction, so spreading the holding across components does not remove crypto-market risk.

Crypto markets continue trading when the exchange is closed. The next ETP quote can therefore differ from the previous close. The security also has issuer and custody risks: if Virtune cannot meet its obligations, recovery depends on the assets held as collateral and the process for enforcing investors' rights. Custody failures or recovery delays can affect the result. These product risks remain part of an index investment.