VanEck’s crypto range has widened to ten products
VanEck has launched three crypto exchange-traded notes (ETNs) offering exposure to algorand, FTX and terra cryptocurrencies.
The VanEck Algorand (VALG), VanEck FTX ETN (VFTX) and VanEck Terra ETN (VLUN) are listed on Boerse Stuttgart.
The ETPs track indices for their respective digital assets provided by MVIS, VanEck’s in-house indexing arm.
Algorand was founded in 2017 with a consensus algorithm based on a proof-of-stake blockchain and Byzantine agreement protocol. Its platform supports smart contracts and its native cryptocurrency, ALGO.
VFTX will be the world’s first exchange-traded product to track the FTX token, the native token of FTX, which is a cryptocurrency derivatives exchange offering futures, leveraged tokens and over-the-counter trading.
Terra was created by Terraform labs in 2018 and based on a proof-of-stake blockchain, it is the world’s second-largest decentralised finance (DeFi) protocol after ethereum, with a market cap of $29.8bn.
The arrival of these three ETNs takes VanEck’s crypto offering to 10 strategies following the launch of polygon and avalanche ETNs last December and polkadot, solana and tron ETNs last September.
While VFTX is Europe’s first ETP to offer exposure to FTX, 21Shares launched Europe’s first algorand and terra ETPs, the 21Shares Algorand ETP (ALGO) and 21Shares Terra ETP (LUNA), in November and January.
This news is republished from another source. You can check the original article here