Fineqia AG, the European subsidiary of digital assets and investment firm Fineqia International, has raised the first-ever exchange rate that implements cardano assets for yield carrier in decentralized finance.
The Fineqia ftse cardano improved yield ETN, which went live On the Vienna Stock Exchange on January 24, it allows investors to take advantage of opportunities around the price appreciation of Cardano (ADA), while still earning yield regardless of the price movement of the underlying assets.
ETNs are debt instruments that undertake the underlying asset of an exchange-linked product, including crypto. The Cardano ETN, which trades under the ticker YADA, provides access to yield by deploying ADA in yield-bearing defi protocols.
The global Defi market currently has over $155 billion in total value locked across various protocols. According to Defillamathe TV, peaked at $207 billion during the last bull market. Meanwhile, research platform Statista estimates that the global defi ecosystem could see its revenues grow to $542 billion by 2025.
Fineqia’s offering is a partnership with FTSE Russell, a subsidiary of the London Stock Exchange, which will serve as the index provider of the ETN.
The launch of the Cardano ETN follows Fineqia AG’s basic approval from the Liechtenstein Financial Market Authority. Approval from the FMA allows the company to issue crypto-backed listed notes in the European Union.
Yada contributes to the growing crypto ETN market in the EU, with a third of the 139 products listed on the Vienna Stock Exchange. Increased acceptance of digital assets as investment vehicles has led to the availability of more than 220 crypto ETPs worldwide. These products currently account for more than $216 billion in assets under management.
Among these ETPs are US Spot Bitcoin ETFs, which have registered more than $121 billion in AUM since their debut in January 2024. Experts attribute the positive market sentiment to Trump’s victory and assumption of office.
Spot bitcoin ETFs have seen more than $4.2 billion in net inflows year-to-date, reflecting the broader optimism surrounding the market.
