VanEck launches another Crypto ETN in Europe

Rick Steves

“We were first to market in Europe with many of these exposures because we’re believers in the transformative nature of the underlying technologies, and because providing exposure to transformative investments is at the core of our firm’s DNA.”

VanEck has launched a new Exchange Traded Note (ETN) on the Deutsche Borse Xetra and SIX Swiss Exchange that allows investors to invest in a selected basket of the largest cryptocurrencies.

Currently tracking six of the largest crypto assets, including bitcoin, Ethereum, and Solana, the ETN is another step taken by the ETF and mutual fund manager as it expands its portfolio across the globe, with eyes in the United States.

Europe adopting Crypto ETPs faster than United States

VanEck hasn’t been able yet to obtain approval from the Securities and Exchange Commission, but that goal remains a priority for the company, which believes it will eventually make a U.S.-listed spot bitcoin ETF a reality.

In the meantime, product innovation in Europe has continued at a torrid pace, with the firm now offering ETNs to European investors that provide exposure to the spot prices of Bitcoin, Ethereum, Polkadot, Solana, TRON, Avalanche, and Polygon.

Gijs Koning, co-head of VanEck Europe, said: “We were first to market in Europe with many of these exposures because we’re believers in the transformative nature of the underlying technologies, and because providing exposure to transformative investments is at the core of our firm’s DNA. 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.

“As the digital assets ecosystem has continued to innovate and grow, we have as well, with a focus on providing professional pricing and indexing via our MV Index Solutions subsidiary, interfacing with global regulators on digital asset ETPs and related topics, publishing high-quality research across a variety of platforms, and building a global product lineup to help investors gain key exposures through transparent, regulated investment structures.”

VanEck’s offering the United States consists of a range of digital asset private funds for high net worth individuals and institutions, as well as several exchange traded funds either providing exposure to companies that are driving innovation and adoption in the digital assets economy, or providing an actively managed approach to investing in bitcoin futures.

Research at VanEck is spearheaded by Head of Digital Assets Research Matthew Sigel who, with his team, regularly provide in-depth research and commentary designed to help sophisticated investors better understand new developments, shifts in sentiment, and critical updates around DeFi, smart contracts, and crypto categorization.

Swiss Exchange boasts 100+ Crypto ETPs

In June 2021, VanEck ETP AG issued its first Crypto ETPs on the SIX Swiss Exchange, rising the number of ETP issuers at SIX to 10, including ETC Issuance GmbH, CoinShares Digital Securities Limited, SEBA Bank and Iconic Funds BTC ETN GmbH.

These ETPs provide investors with exposure to the price of Bitcoin and Ethereum without having to buy the cryptocurrencies themselves. Both ETPs are fully collateralized.

SIX boasts more than 100 exchange traded products and structured products with cryptocurrencies as underlyings offered for trading.

Read this next

Institutional FX

FXSpotStream volumes hit 14-month high in November

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for November 2023, which moved higher on a monthly basis.

Digital Assets

Circle denies ties with Palestinian groups, TRON founder

Stablecoin issuer Circle has denied allegations that it facilitates funding for terrorist organizations.

Retail FX

CySEC hits operator of Titanedge, TradeEU with €90,000 fine

The Cyprus Securities and Exchange Commission (CySEC) announced that it has imposed a fine of €90,000 on Titanedge Securities Ltd due to shortcomings in their regulatory obligations.

Institutional FX

Cboe FX volumes retreats slightly in November 2023

Cboe’s institutional spot FX platform today announced its trading volume for the month ending November 2023, which took a step back after a strong rebound in October.

Institutional FX

Alpha Group seals Cobase majority acquisition

Foreign exchange service provider Alpha Group International plc (AIM: ALPH) has finalized its acquisition of Financial Transaction Services, operating as Cobase.

Digital Assets

TMNG Tokens Successfully Listed on MEXC Crypto Exchange

TMN Global proudly announces the successful listing of its native TMNG token on the MEXC crypto exchange, effective December 1st, 2023. This strategic partnership marks a significant milestone for TMN Global in the crypto space.

Institutional FX

Marex completes acquisition of TD Cowen’s PB business

London-headquartered commodities broker Marex has completed the acquisition of TD Cowen’s prime brokerage and outsourced trading business, which will be integrated into Marex’s capital market division. This division was established following the acquisition of ED&F Man Capital Markets in 2022.

Digital Assets

Talos introduces decentralized liquidity and onchain settlement with Uniswap and Fireblocks

“At the cornerstone of the DeFi ecosystem, Uniswap has the breadth of assets and depth of liquidity that institutional traders need. And to have this partnership powered by Fireblocks, a digital assets infrastructure provider trusted by some of the most renowned institutions, is very fitting.”

Digital Assets

FINMA-regulated crypto bank SEBA Bank rebrands to AMINA

“As we look forward to 2024, our ambition is to accelerate the growth of our strategic hubs in Switzerland, Hong Kong, and Abu Dhabi, and to continue our global expansion, building on all the successes we have laid down over the past years.”