The ETN will contain exposure to seven different major cryptocurrencies.
On Monday, VanEck, a financial institution with close to $82 billion in assets under management with exchange-traded funds, or ETFs, mutual funds and institutional accounts, announced the launch of its first cryptocurrency fund. The fund is listed as an exchange-traded note, or ETN, on the Deutsche Borse Xetra and SIX Swiss exchanges with exposure to Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT), Solana (SOL), Tron (TRX), Avalanche (AVAX) and Polygon (MATIC).Gijs Koning, co-head of VanEck Europe, elaborated on why it was important for the firm to facilitate investment in digital currencies:”In early 2017, we determined that digital assets could provide a store of value alternative to currencies and gold, as well as a host of technology solutions that could bring down costs in the payments and investing industries.”While VanEck’s cryptocurrency financia
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