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• The STABLE ETP is physically backed and rebalanced quarterly via Coinbase Custody.
• Investors gain exposure to Ethereum, XRP, Solana, Chainlink, Stellar, and Aave.
• Launch aligns with Europe’s MiCA regulation and Nasdaq’s digital asset strategy.

A Swedish crypto asset manager has launched Europe’s first exchange-traded product (ETP) dedicated to the infrastructure supporting stablecoins, marking a turning point for regulated digital asset investing in the region.

On November 5, Virtune AB listed its Virtune Stablecoin Index ETP on Nasdaq Stockholm, Nasdaq Helsinki, and Deutsche Börse Xetra.

The launch gives investors an opportunity to access the networks driving stablecoin adoption without directly holding the tokens themselves.

The first stablecoin infrastructure ETP in Europe

Trading under the Bloomberg ticker STABLE, the product is designed to capture value from the blockchains and crypto assets that underpin the growing stablecoin ecosystem.

On Nasdaq Stockholm and Helsinki, it trades as STABLE and STABLEE, respectively, while the Xetra listing uses the symbol VRTN.

The ETP is available to both institutional and retail investors through major brokers and banks, including Avanza, Nordnet, SAVR, Scalable Capital, Smartbroker, and Finanzen Zero.

Virtune describes the product as “the first of its kind” in Europe.

Unlike conventional crypto funds that hold stablecoins such as USDC or Tether, the STABLE ETP provides exposure to the blockchains where stablecoins operate.

It is 100% physically backed by digital assets stored securely with Coinbase Custody and is rebalanced quarterly to reflect market shifts.

The ETP carries a 1.95% annual management fee and supports trading in SEK and EUR.

Capturing the growth of the $314.5 billion stablecoin market

The stablecoin sector has grown rapidly over the past year, with financial institutions adopting tokenised money to facilitate round-the-clock settlements and faster cross-border transfers.

According to CoinMarketCap data, the total stablecoin market value stands at about $314.5 billion.

Euro-backed stablecoins, while still small in comparison, have reached a market capitalisation of $609.37 million, as per CoinGecko, led by Circle’s EURC, Stasis Euro, and Societe Generale’s EUR CoinVertible.

This expansion has encouraged European banks to experiment with their own digital currencies.

In September, nine banks, including UniCredit, Banca Sella, DekaBank, and ING, announced plans to launch a MiCA-compliant euro-backed stablecoin.

Virtune’s STABLE ETP arrives amid this momentum, offering investors a regulated avenue to participate in the wider stablecoin ecosystem.

A bridge between traditional finance and digital assets

By focusing on blockchain infrastructure rather than the stablecoins themselves, Virtune’s ETP aims to diversify risk while capturing growth potential from multiple networks.

The index is weighted using the square root of market capitalisation, a method designed to prevent dominance by larger assets and to maintain balanced exposure across the ecosystem.

For investors, the STABLE ETP represents a gateway into crypto infrastructure via a regulated vehicle.

It eliminates the need to manage private keys or digital wallets while still providing participation in the networks driving stablecoin use in payments, banking, and commerce.

The ETP also aligns with Nasdaq’s broader strategy to expand its range of digital asset products within a transparent regulatory framework.

Helena Wedin, Head of ETF and ETP Services for European Markets at Nasdaq, said the exchange’s goal is to encourage innovation in a secure marketplace.

The listing of Virtune’s product, she noted, highlights the growing maturity of the ETP sector and its importance in linking traditional investors to blockchain-based opportunities.

What Virtune’s launch signals for Europe

The introduction of STABLE marks a significant milestone for European digital asset markets, which are now operating under the new MiCA regulation.

It underscores a shift from speculative crypto products toward infrastructure-focused investments that mirror the real-world utility of blockchain technology.

By packaging stablecoin infrastructure into a regulated exchange-traded product, Virtune has provided a blueprint for how digital assets can coexist with mainstream financial systems.

As more financial institutions explore tokenised money and on-chain settlements, products such as the Virtune Stablecoin Index ETP could serve as benchmarks for future innovation.

In a market driven by efficiency, transparency, and accessibility, Virtune’s launch demonstrates how Europe’s financial ecosystem is evolving to embrace the technology powering the next generation of digital finance.

• Monero price rose 9% to reach to high of $378, the highest level since June.
• Privacy coins Zcash, Decred also jumped as Bitcoin, Ethereum struggled.
• The technical picture suggests Monero could rally to a new all-time high amid fresh momentum.

As top cryptocurrencies struggle amid widespread sell-off, Monero (XMR) is among coins seeing a decent uptick.

While Bitcoin hovers below $103,000 and most altcoins are bleeding red, XMR is up 9% in 24 hours on swelling volume.

The catalyst? A resurgent privacy coin sector that has seen Zcash explode amid gains for Dash and Decred, among others.

Monero price climbs 9% to five-month peak

The privacy coin has gained by more than 9% in the past 24 hours to hit levels not seen since early June.

Indeed, XMR traded at highs of $378 on November 5, 2025, having jumped from lows of $326.

Monero is now up 128% in the past year, lagging Zcash at 1,120% but notably outpacing Ethereum’s 36% and Bitcoin’s 49%.

The latest XMR price breakout began in Asian hours on Tuesday when XMR punched through the $337-$346 congestion zone that had capped rallies since June.

Buyers stepped in aggressively at the 50-day EMA above $302 on Oct. 21, turning what looked like a retest into a key support level.

After Monero bulls cleared $350, the rally to $378 was on. This triggered a cascade of short squeezes on perpetual futures platforms, with more than $391,000 in leveraged positions liquidated in the past 24 hours.

Meanwhile, the token’s 24-hour volume spiked 19% to $265 million.

The move has lifted XMR’s market cap to $6.72 billion, ranking it 21st on CoinMarketCap.

Can Monero extend rally to new all-time high?

Technically, the daily chart is screaming continuation. XMR has printed a textbook high at $339 and is now challenging the 0.786 Fibonacci retracement level of the May-August swing at $378.

A decisive close above that level will bring $400 into play and expose the 2021 cycle high of $517.

The daily chart also shows that momentum oscillators are largely bullish.

On the above chart, we can see the daily RSI at  64. While its near the overbought line, its not yet into the territory and could rise further before it hits 70.

Elsewhere, the MACD has the histogram positive and expanding histogram following a bullish crossover.

The signal-line crossover offers early confirmation and any potential catalyst could help XMR price through the $400 psychological barrier.

What’s the XMR price long term picture?

On a long term outlook, Monero is tracing the same pattern that preceded its 2021 parabolic leg: a multi-month base then breakout.

With privacy coins back in the limelight and Monero having survived bearish scenarios before, it looks like the current momentum allows bulls to aim for the ATH and beyond.

However, analysts say crypto could see some choppy trading in the coming months.

After years of relentless buying, Strategy Inc., the digital-asset treasury firm led by Michael Saylor, has quietly eased its pace of Bitcoin accumulation.

In recent weeks, company filings have shown that its BTC purchases have fallen to only a few hundred coins, representing a sharp slowdown for the largest corporate holder of the flagship cryptocurrency.

During the third-quarter earnings call, Saylor explained that the slowdown was due to the firm being at an “inflection point.”

According to him:

“Our multiple-to-net asset value, MNAV, has been trending down and has been trending down over time as the Bitcoin asset class matures, as the volatility decreases.”

However, that lull may prove temporary, as the firm’s new financing channels are now in motion.

This includes a 10% euro-denominated perpetual preferred stock listed in Luxembourg and a variable-rate US issue that has just regained its $100 par value.

Together, the products could reopen the flow of capital into Strategy’s Bitcoin reserves and test whether yield-hungry investors will again fund Saylor’s $70 billion wager on digital scarcity.

Strategy goes international with STRE

Strategy’s latest quarter underscored both the pause and the potential. The firm reported $2.8 billion in net income, mainly from unrealized gains on its Bitcoin holdings, but added only a modest number of coins.

Industry analysts attributed the slowdown to lighter demand for the company’s common stock and its four listed preferred share offerings, which have long been its primary sources of funding.

Bitcoin analyst James Check said:

“The company is struggling to keep them above face value, and daily trade volume is so light, nobody can put any size on. The demand is tepid.”

However, that may be changing as the firm expands internationally.

On Nov. 3, Strategy introduced the Series A Perpetual Stream Preferred (STRE), a euro-denominated security that carries a 10% annual dividend, paid quarterly in cash.

The dividend is cumulative and increases by 100 basis points per missed period, up to a maximum of 18%. It added that the proceeds from this fundraising will be used for “general corporate purposes, including Bitcoin acquisition.”

Notably, the economic backdrop favors experimentation.

According to BNY Mellon, euro-denominated corporate bond spreads remain tight by historical standards even after the European Central Bank’s tightening cycle. The region has seen the second-highest investment-grade inflows in six years, pushing total market size beyond €3.2 trillion across more than 3,700 issuers.

With BBB yields near 3.5% and single-Bs around 6.5% (FTSE Russell), STRE’s 10% coupon stands out. Bitcoin analyst Adam Livingston said:

“Even before tax, STRE doubles high-yield and triples investment-grade coupons. After US tax-equivalent conversion the yield explodes to 15.9 percent thanks to its ROC treatment!”

STRC hits par to reopen the US tap

Meanwhile, the European listing follows movement at home that could also reignite an additional source of funding for the firm.

During Strategy’s third-quarter earnings call, the firm announced that it would raise the coupon on its US-listed Variable-Rate Series A Perpetual Stretch Preferred (STRC) by 25 basis points to 10.5% in November.

The adjustment is meant to stabilize market pricing and keep the preferred near its $100 target.

Following the announcement, STRC reached the $100 par for the first time since its launch in July.

Strategy’s investor Mark Harvey pointed out that this development would allow the company to sell new shares and funnel that liquidity into BTC.

He said:

“The TAM for $STRC is $33 trillion. That’s $33 trillion of yield-chasing capital, which is attracted to STRC like a magnet because it offers a higher yield (10.5%). Since Strategy aims to maintain the $100 target for STRC, it will follow its guidance and begin issuing new shares through the ATM to buy Bitcoin. Put simply, STRC above $100 means it will start funneling that $33T into BTC; a powerful catalyst for Bitcoin.”

Financial analyst Rajat Soni echoed the enthusiasm, saying:

“$100 STRC means Strategy can start ATMing shares to buy Bitcoin… Brand new source of funding unlocked.”

Indeed, Saylor had explained that “as the credit investors start to understand the appeal of digital credit, they’re going to want to buy more, and we’re going to sell more and issue more credit.”

He added:

“As the equity investors start to appreciate the uniqueness of the Bitcoin treasury model, and especially the uniqueness of our company and our ability to issue digital credit worldwide at scale, we think that that’s going to drive an appreciation of the equity.”

What does this mean for Bitcoin?

At its peak, Strategy Inc. was the most aggressive corporate buyer of Bitcoin.

Data from Bitwise shows the firm added more than 40,000 BTC in the third quarter, far surpassing every other public holder. Those purchases, analysts say, have repeatedly supported market sentiment and, at times, the asset’s spot price.

According to CryptoQuant analyst JA Maarturn, Strategy’s stock remains “highly correlated with Bitcoin’s price,” reflecting how the company’s trading often mirrors that of the cryptocurrency itself.

That linkage could strengthen again because the revival of STRC and the debut of STRE create a two-continent funding loop capable of reigniting corporate Bitcoin accumulation.

Beyond Strategy’s balance sheet, the twin preferreds deepen Bitcoin’s financial integration with the traditional ecosystem. Each share sold channels conventional yield-seeking capital into exposure to Bitcoin’s balance-sheet value, effectively transforming investor appetite for income into indirect demand for the asset.

Peter Duan, a Bitcoin analyst, also pointed out that the products would introduce a significant “liquidity” factor to the market.

According to him:

“One HIGHLY under-appreciated part of MSTR’s preferreds is the fact that they have tremendous liquidity that is backed by the most pristine asset in the world – Bitcoin. For reference, the average USD listed preferreds only has $1.1M in daily liquidity while the average Euro listed preferreds only has $1.0M in daily liquidity. Said another way, Strategy’s preferreds range from 12X-70X more liquid.”

That depth matters because a greater turnover reduces funding friction and accelerates the flow of capital between investor demand and Bitcoin acquisition.

So, if  STRC holds its par value and STRE gains traction in Europe, each new tranche could act as a direct liquidity conduit from traditional markets into the crypto economy.

Moreover, Saylor’s model also reframes Bitcoin’s macro role as not merely a speculative reserve but a collateral base for yield engineering.

This provides a clear feedback loop, showing that healthy preferred markets enable new issuance, which finances Bitcoin purchases; these purchases, in turn, reinforce balance-sheet value and market perception of scarcity.

Key takeaways

• ETH is trading above $3,300 after dropping to the $3k support level on Monday.
• The leading altcoin could recover above $3,600 if the market trend improves.

Ether slips to $3k, recovers to $3,300

It has been a bearish start to the month for cryptocurrencies, with most of them losing 10% or more of their value over the last few days. Ether, the leading altcoin by market cap, is down 17% in the last seven days and temporarily dropped to the $3k psychological level on Tuesday.

However, it has now recovered and is currently trading above $3,300 per coin. The bearish performance comes amid declining institutional demand in the market. According to SoSoValue, spot Ethereum ETFs posted net outflows of $219.37 million on Tuesday. The biggest loser was BlackRock’s ETHA, posting $111 million in net outflows. Funds from Grayscale and Fidelity also reported outflows. 

Ethereum could rebound to $3,600 after retesting key support

The ETH/USD 4-hour chart is bearish and inefficient, caused by yesterday’s sharp decline in the market. The technical indicators remain bearish despite the slight pullback recorded so far today. 

Ether’s price faced rejection from the high of $3,928 on Monday and declined by 15.73% the next day. At press time, ETH is trading at $3,347 after retesting the 50% retracement level at $3,171.

The RSI of 31 shows that Ether is currently in the oversold region and could record a healthy gain from here. The MACD lines are also improving following the bearish crossover during the weekend.

If the $3,171 continues to hold as support, the leading altcoin could rally towards the $3,600 resistance level in the near term. An extended bullish run would see Ether recapture the Monday high of $3,900. 

However, if ETH’s daily candle closes below $3,171, the bearish trend could continue and push ETH’s price towards the next daily support at $3,017.

• Aster price jumped above $1 on November 5, 2025, defying the broader crypto market trend.
• Bulls could eye $2 if the price holds above the psychological level.
• The macro environment may play a key role in Aster’s price recovery or dump.

ASTER, the decentralized perpetual and spot trading exchange, Aster’s native token, is up double digits to currently hover above $1.

This is even as the broader crypto market battles widespread sell-off pressure amid a 3% decrease in global cryptocurrency market capitalisation.

Notably, ASTER price has jumped by more than 15% to intraday highs of $1.06, with bulls reclaiming the psychological $1 mark amid a 17% spike in daily volume.

Bulls take charge as Aster price reclaims $1 level

The gains see the DEX platform’s native token buck the trend across the broader market.

A crypto rout in the past 48 hours saw Bitcoin crash to below $100K, and over $1.7 billion leveraged positions liquidated in 24 hours.

But Aster’s market cap is up 15% to over $2.07 billion as of the time of writing.

Aster’s surge despite the broader weakness follows the recent vertical swing that had bulls jumping from lows of $0.91 to above $1.24 on November 2, 2025.

While bears recouped the advantage, that price swing benefited from an uplifting sentiment tied to Binance founder Changpeng Zhao’s purchase of 2.09 million ASTER tokens.

Full disclosure. I just bought some Aster today, using my own money, on @Binance.

I am not a trader. I buy and hold. pic.twitter.com/wvmBwaXbKD

— CZ 🔶 BNB (@cz_binance) November 2, 2025

Zhao’s post catalysed a bullish flip that sent the Aster price soaring, with daily volume popping tenfold as buying pressure mounted.

However, that upside momentum hit the rocks as cryptocurrencies plummeted alongside stocks amid macro headwinds.

Crypto exploits across decentralized finance did not help bulls, and ASTER price sank to lows of $0.83 on Nov. 4.

Is ASTER poised for a retest of $2?

As noted, this altcoin’s price fell to lows of $0.83 this week, with this also a key support zone as seen when prices plunged in late October.

Decline in sentiment as Bitcoin and Ethereum suffered amid a crypto bloodbath threatened a breakdown to $0.75.

However, bulls have recouped the recent losses and are back above $1, a key level that buyers have retested in the past 24 hours.

Gains have come amid a 12% spike in daily volume, with $1.56 billion traded in the past day as heightened buying helps ASTER hold above the psychological level.

On the charts, price remains in a downtrend. Have a look below.

Yet the breakout from a falling wedge pattern and strength on retest suggest bulls may have a short-term shot of targeting $1.55.

This area marked a local top in mid-October, and above it lies the $2 mark.

While the relative strength index is slightly sloped near 52, it remains above the neutral mark.

Similarly, the MACD indicator on the 4-hour chart signals a bullish crossover.

• ZKsync price gained by 11% and hit a high of $0.068.
• Gains came as bulls hold steady and weekly uptick climbs to 87% amid Atlas upgrade.
• ZKsync has also received endorsement from Ethereum co-founder Vitalik Buterin.

ZKsync surged by more than 11% in intraday gains on November 5, 2025 to hit highs above $0.068 as upbeat sentiment held.

With key announcements regarding major enhancements to ZK token utility, the altcoin’s price has extended gains to over 87% in the past week.

Renewed interest in the token has also come amid a key boost by Ethereum co-founder Vitalik Buterin.

ZKsync price extends weekly gains to 87%

Despite a widespread downturn in the cryptocurrency market, ZKsync’s ZK token has demonstrated impressive strength.

Bulls defied the crash to reach new highs of $0.068, with an 11% price increase that also boasted a 21% spike in daily trading volume for ZK.

Per CoinMarketCap, ZKsync’s daily volume hit an impressive $499 million over the past 24 hours.

Like Aster, Bitget Token and Hyperliquid, ZK Bulls are showing resilience. It trades near $0.061, off intraday highs but still above session lows of $0.049.

Analysts suggest that ZK’s ability to hold steady as trading volumes remain elevated may allow bulls to target $0.10, a level last seen in March.

Notably, ZK has traded in a downtrend since rejecting highs of $0.26 in early December, 24..

ZKsync token to get major utility overhaul

The catalyst behind ZK’s recent rally looks to be the community’s reaction to a proposed upgrade that seeks a comprehensive overhaul of ZK token utility.

Atlas upgrade brings this possibility, a major enhancement set to amplify the ZK token’s functionality.

The next phase for $ZK token is real economic utility.

As interop and Prividiums enter production, the network for incorruptible finance should capture the value it creates, channeling it towards ecosystem growth. https://t.co/cIGww7tL8D

— ZKsync (@zksync) November 4, 2025

By expanding the token’s use cases, the upgrade aims to create a more robust economic model, where ZK serves not only as a governance tool but also as a conduit for value accrual from off-chain activities.

“This proposal presents a high-level direction for $ZK token utility,” said Alex Gluchowski, founder of ZKsync and CEO of Matter Labs.

He elaborated on the strategic intent, noting that the changes are designed to unify on-chain and off-chain value flows.

“Under this proposal, value generated from such enterprise components would flow into the same governance-controlled mechanism as on-chain value. In practice, this means establishing structures through which licensing-based revenue can return to the network and enter the same ZK buyback and allocation pathways, preserving a single unified economic loop,” the ZKsync co-founder noted.

Also buoying ZKsync price this past week has been a recent endorsement from Ethereum co-founder Vitalik Buterin.

Buterin’s public support has added significant credibility, emphasizing the protocol’s alignment with Ethereum’s scaling vision and its potential to drive mass adoption.

The Ethereum co-founder has long advocated for zero-knowledge technology, which is ZKsync’s focus.

As the ecosystem matures, stakeholders anticipate increased DeFi activity.

Spot Bitcoin ETFs saw a sharp $566.4 million outflow on Tuesday, Nov. 4, extending its five-day drain to roughly $1.9 billion and decisively flipping the week’s tone into risk-off.

Fidelity’s FBTC accounted for the majority of the exits at -$356.6 million, with ARKB at -$128.1 million and Grayscale’s GBTC at -$48.9 million. No fund posted an inflow.

This is the largest single-day outflow since Aug. 1, a fresh new high for redemptions in the second half of the year. The rolling five-day tally is now near $1.9 billion.

Bitcoin’s price action offered little cushioning to the ETF market. Bitcoin briefly dipped below the coveted $100,000 level on major US exchanges on Tuesday before stabilizing just above $100,000 into Wednesday morning. Aggregated data puts Bitcoin’s average price on Nov. 4 at $101,475, with the early hours of Nov. 5 bringing little upside to the price.

Yesterday’s outflow was concentrated at Fidelity’s FBTC, while ARKB and GBTC added notable, but significantly smaller redemptions. It’s a noteworthy change from Monday outflows, where BlackRock’s IBIT accounted for almost all of the outflows.

The setup that leads into the second half of the week is now pretty straightforward. With Bitcoin struggling to find stability at $100,000 and realized volatility increasing, the next ETF print will have a significant impact on near-term sentiment. Another significant redemption in the next two to three days would reinforce the idea that de-risking is now being expressed through the largest and most liquid wrappers. It will take more than a single day of net creations to reverse this risk-off sentiment.

When analyzing the macro context behind ETF flows, it’s important to focus on the classic feedback loop: flows influence AP’s hedging and inventory, which then influences spot liquidity, which then influences derivatives positioning and funding. That loop can easily loosen or tighten within a couple of trading days.

Given the scale and concentration of Tuesday’s outflows, we’ll be carefully watching FBTC’s next print, the persistence of GBTC’s outflows, and whether ARKB’s redemptions continue in size. If the streak breaks, and we see a large fund like IBIT posting inflows again, there’s a good chance Bitcoin’s price will be able to find support above $100,000. If these outflows extend, the market will have to absorb a new wave of selling pressure at a time when both liquidity and confidence are already in short supply.