TL;DR Breakdown:
- VanEck has listed Solana, Tron, and Polkadot crypto ETNs on the Deutsche Börse.
- Trading commences on Tuesday, enabling institutions the exposure to these digital assets.
Global investment manager, VanEck has officially cleared approval to list Solana (SOL), Tron (TRX), and Polkadot (DOT) backed exchange-traded notes (or ETN) on the largest European stock exchange, Deutsche Börse. The crypto ETN products will further extend the investor base of these coins to the mainstream financial markets in Europe, including Zurich, Paris, and Amsterdam.
VanEck scores listing approval for crypto ETNs
Exchange-traded products have become a common way for institutional investors to participate and gain exposure in the cryptocurrency market. The crypto ETNs would track the market performance of Solana, Tron, and Polkadot, enabling investors to participate on an exchange-traded basis “without having to buy them themselves.”
The three crypto ETNs are currently listed on the Xetra Deutsche Börse. They are scheduled to start trading on the stock exchange from September 21.
“We are excited to launch a Tron, Solana, and Polkadot ETP on the heels of growing network usage and adoption. ETPs provide high-quality market access, transparency, and robust regulatory frameworks to access digital assets,” said Gurbacs wrote in an email.
The push for institutions in crypto
The latest cryptocurrency ETN listings from VanEck come some months after the fund manager launched the world’s first Bitcoin and Ether ETNs on the German stock trading exchange. Besides the ETNs, it’s worth mentioning that VanEck is the asset manager closest to launching a Bitcoin exchange-traded fund in the United States.
In March, the US Securities and Exchange Commission (SEC) published the VanEck Bitcoin ETF application, meaning the SEC had about 45 days from that time to either approve or decline it or an additional 240 days to review the application. The latter seems to be the case.
