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VanEck Launches Cryptocurrency Exchange (ETN) Fund in Europe

VanEck Launches Cryptocurrency Exchange (ETN) Fund in Europe

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Answer VanEck Launches Cryptocurrency Exchange (ETN) Fund in Europe

The European arm of VanEck has announced the launch of a multi-crypto fund that gives European investors indirect exposure to cryptocurrencies.

The company’s European arm has listed its new ETN (ETN) fund on the SIX Swiss Exchange and Xetra, which enables investors to invest in a basket of major cryptocurrencies with greater liquidity.

The asset manager said the new VanEck Vectors Crypto Leaders ETN-VTOP crypto fund tracks CryptoCompare’s MVIS Index, which provides exposure to a select basket of large cryptocurrencies with full guarantee and the largest liquidity.

After monthly rebalancing, ETN tracks six major cryptocurrencies, including Bitcoin, Ethereum and Solana.

VanEck now provides European investors with an ETN which provides exposure to the spot prices of Bitcoin, Ethereum, Solana, Polkadot, Polygon, Tron, and Afax.

Read:Tim Draper: Netflix is ​​the next company to join the bitcoin buying bandwagon

VanEck told VanEck that it created an investment product to simplify the tasks of investors investing in the expanding crypto market.

In addition, the asset manager stated that he created ETN in order to take advantage of more efficient cryptocurrencies that go beyond their main function as digital currency.

Martin Rossmeller, CEO of VanEck Europe, said:

Investors can use VTOP to invest in a variety of cryptocurrencies more easily.

They do not have to create their own wallet and store cryptocurrencies in their own wallet, but they can benefit from developing multiple assets through a single product, similar to an ETF while spreading out their investment risk.

ETF Market Expansion:

The development by VanEck comes at a time when the traditional market is getting increasing forms of investment products, including the ETN and ETF.

Such forms of investments enter the cryptocurrency market, which contributes to its expansion and increased adoption on a larger institutional scale.

In November last year, Invesco launched a dedicated ETN cryptocurrency investment fund on the Xetra exchange to provide investors with the opportunity to share and get exposure to Bitcoin in a simple way.

Read:Bitcoin BTC reaches a new record above 25 thousand dollars and its dominance in the market rises

Read also:

El Salvador responds to IMF advice to stop using Bitcoin

India Taxes 30% Crypto Gains and Will Not Allow Exemption…Details Here


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