Fineqia AG, the European subsidiary of digital assets and investment firm Fineqia International, has unveiled the first-ever exchange-traded security that deploys Cardano assets to generate returns in decentralized finance.
The Fineqia FTSE Cardano Enhanced Yield ETN, which went live on the Vienna Stock Exchange on January 24, will allow investors to take advantage of opportunities around the price appreciation of Cardano (ADA) while continuing to earn yield regardless of the price movement of the underlying asset.
ETNs are debt instruments that collateralize the underlying asset of an exchange-traded product, including crypto. The Cardano ETN, which trades under the symbol YADA, provides access to yield by deploying ADA on yield-generating DeFi protocols.
The global DeFi market currently holds over $155 billion in total value locked across various protocols. According to DeFiLlama, TVL peaked at $207 billion during the last bull market. Meanwhile, research platform Statista estimates that the global DeFi ecosystem could see revenues reach $542 billion by 2025.
Fineqia’s offering is a collaboration with FTSE Russell, a subsidiary of the London Stock Exchange, which will serve as the index provider for the ETN.
The launch of Cardano ETN follows the approval of Fineqia AG’s base prospectus by the Liechtenstein Financial Markets Authority. The FMA approval allows the company to issue exchange-traded notes backed by cryptocurrencies throughout the European Union.
YADA adds to the growing market for crypto ETNs in the EU, with a third of the 139 products listed on the Vienna Stock Exchange. The increased adoption of digital assets as investment vehicles has led to the availability of over 220 crypto ETPs worldwide. These products currently represent more than $216 billion in assets under management.
Among these ETPs are the US Bitcoin spot ETFs, which have recorded more than $121 billion in assets under management since their debut in January 2024. Experts attribute positive market sentiment to the victory and entry into office of Trump.
Spot Bitcoin ETFs have seen more than $4.2 billion in net inflows year-to-date, reflecting the broader optimism surrounding the market.
