Highlights. VanEck has launched a new ETN linked to PYTH tokens, allowing investors in 15 European countries to indirectly invest in PYTH.
The VanEck #Pyth ETN is backed by assets held in cold storage at Bank Frick and has a total expense ratio of 1.5%.
November 5, VanEck announced the launch of its latest listed bond, the VanEck Pyth ETN. European investors can use this ETN to track the #Pyth Network #token PYTH without having to buy or store #cryptocurrency .
VanEck Pyth ETN will be listed on Euronext Amsterdam and Euronext Paris and will be available in 15 European countries, including Germany, France, Italy and Sweden.
Pyth network is a decentralized oracle protocol that allows smart contracts to receive real-world data, perform secure off-chain computing and connect to other blockchain networks. The network's internal cryptocurrency, the PYTH token, underpins transactions on the network. The VanEck Pyth ETN is designed to reflect the MarketVector Pyth Network VWAP Close Index, which is the PYTH token itself. It is close enough to the price and gives investors an indirect way to gauge the fluctuations of the PYTH market.
VanEck Pyth ETN is inherently completely safe. The underlying assets are purchased and safely stored in a "cold vault" secured by Bank Frick, a regulated custodian based in Liechtenstein.
ETN's base commission will be 1.5% TER, and they are expected to trade alongside other traditional assets, making them accessible to a broad audience interested in regulated digital asset products.
VanEck introduced bets on the Solana ETN in the European market in early October. The ETN, listed on Deutsche Börse under the ticker VSOL, automatically adds betting commissions to the net asset value every day, providing investors with passive income without the need to place technical bets.
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