W,U and V are derived from the same root; it's a bit of a myth that the Germans always pronounce W as a hard V; it actually seems to vary from listening to Germans.
There's also a good reason why W is called 'double-u'; it was just that originally.
Also, the letter W in Scandinavian languages is seldom used, but in Danish, V is often pronounced closer to W in any case.
There is a specific stave for W in the Elder and Anglo-Saxon runic Futharks (Wunjo), but none in the younger (Norse) Futhork. U (Úr), however is present and may well have been used in its stead.