Sunday, September 25, 2022

VanEck Floats its Inaugural Multi-Token Cryptocurrency Fund in Europe

VanEck, a multinational investment firm that was founded in 1995 and has a market capitalization of about $23.97, has launched its first multi-token crypto fund in Europe, bolstering its stance as a corporation with a heart that beats for digital currencies and its expansionary drives.

The investment firm that has its branches in the US, Australia, and of course, Europe, said the launched product is an Exchange-Traded Note ETN, which integrates six of the largest crypto assets into its exchange system, a tweet on the company’s official Twitter validates this news.

Per the tweet, the VanEck ETN offers a simple, bundled investment for seven of the largest cryptocurrencies. Currently, the index constituents include crypto assets like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Polkadot (DOT), Avalanche (AVAX), Tron (TRX), and Polygon (MATIC).

Gijs Koning, co-boss of the asset management firm, 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”.

The move to launch the ETN aligns with the core vision of the digital investment firm which is to provide investors with access to opportunities that will strengthen their portfolios.

While the firm launches its multi-token crypto fund in Europe, it still has its eyes permeating the US market, as it works tirelessly to realize its US-listed spot Bitcoin ETF vision.

VanEck currently offers a number of digital assets products to private funds and exchange-traded funds to high-net-worth individuals and institutions in the United States. One exchange-traded fund invests in companies that are driving digital asset innovation and development, while another offers a unique and actively managed approach to bitcoin futures investing.

VanEck ETP AG, along with ETC Issuance GmbH, CoinShares Digital Securities Limited, SEBA Bank, and Iconic Funds BTC ETN GmbH, issued the first Crypto ETPs on the SIX Swiss Exchange in June 2021, bringing the total number of ETP issuers on SIX to ten.

Israel Love
Israel Love is a passionate writer that enjoys educating and inspiring people through his writing. This passion fuels the desire to simplify the complexities in the blockchain ecosystem, by providing viable information about the crypto space in such a way that makes it easy for anyone to understand. Israel love also has interests in Human Resource Management as he is a trained expert in HR.

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