“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.
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.
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.