VanEck has launched its latest Exchange Traded Note, the VanEck Pyth ETN. European investors can use this to track the Pyth Network’s token, PYTH, without purchasing or custody a digital asset. The Pyth ETN will be listed on Euronext Amsterdam and Euronext Paris and available in 15 European countries, including Germany, France, Italy, and Sweden.
VanEck secures investor funds by fully collateralizing the Pyth ETN with cold storage assets
The Pyth Network is a decentralized oracle system that enables smart contracts to securely conduct off-chain calculations, link to other blockchain networks, and retrieve data from the real world. The PYTH token, an internal coin, serves as the foundation for network transactions. Investors have indirect exposure to PYTH market movements through the VanEck Pyth ETN, created to mirror the MarketVector Pyth Network VWAP Close Index, which is relatively close to the price of the PYTH token itself.
The VanEck Pyth ETN is fully collateralized by nature. Underlying assets get acquired and are securely stored in “cold storage”, supported by Bank Frick, a regulated custodian based in Liechtenstein.
The ETN will also bear a base fee of 1.5% TER and is expected to trade alongside other more traditional assets and become available to a broad audience interested in regulated digital asset products.
The Pyth ETN follows VanEck’s successful launch of similar products, including BTC and ETH ETNs. These products have consistently prioritized investor security while providing exposure to the evolving crypto market.
VanEck expands investor access by launching staking features and ETF proposals in Europe
VanEck has continued expanding its digital asset offerings in Europe, launching a staking feature on its Solana ETN (VSOL) on Deutsche Börse in October. The ETN incorporates staking rewards directly into its net asset value, allowing investors to earn passive income without technical staking requirements.
In addition, the firm has launched Bitcoin and Ethereum ETFs and recently submitted a proposal with the US Securities and Exchanges Commission to create a Solana ETF, further extending its commitment to improving investors’ access to blockchain-based assets.
The price of Solana (SOL) experienced a minor upswing after the recent statement, rising 1.76% in the last 24 hours to $165. A 16.95% increase in trade volume to $3.08 billion also suggested increased market interest.
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