German investors gained a listed way to gain exposure to NEAR Protocol (NEAR) on Wednesday, as Swedish asset manager Virtune began trading a staking-linked ETP on Deutsche Börse Xetra.
The Virtune Staked NEAR ETP trades in euros under ticker VRTR. Virtune says the product is backed entirely by NEAR held by Coinbase in cold storage. Its ISIN is SE0025837735 and its WKN is A4APTM.
Virtune lists an annual management fee of 1.49%. The company put annual staking rewards at about 2.7% as of Oct. 27 and says staking is intended to add yield to the product's NEAR exposure. The ETP is available in Germany through brokers and banks including Scalable Capital, Smartbroker, Finanzen.net ZERO and Comdirect.
Virtune CEO Christopher Kock said the ETP is the company's 13th product in Germany and described the listing as part of its effort to broaden regulated crypto offerings for investors there. Virtune reports managing about $340 million in assets across 24 ETPs and says it has earned the trust of more than 160,000 investors.
The company's announcement cautioned that crypto investments carry high risk and investors may not recover their capital.
