Global asset management firm VanEck has launched a new crypto-based investment product, the VanEck SUI ETN, which will trade on the Euronext Amsterdam and Euronext Paris exchanges.
This exchange-traded security (ETN) offers investors the opportunity to participate in the development of the SUI blockchain without directly holding SUI tokens. The product aims to help grow the decentralized finance (DeFi) ecosystem and provide broader access to high-speed blockchain applications.
According to VanEck, the SUI blockchain developed by Mysten Labs is a decentralized smart contract platform known for its high transaction speeds. Unlike traditional blockchains, such as Bitcoin and Ethereum, SUI offers significant speed and cost advantages by processing transactions in parallel. This feature makes SUI ideal for applications that require real-time interaction, especially financial services and online games.
“High-speed transaction security is critical, especially in the DeFi space,” said Martijn Rozemuller, CEO of VanEck Europe, adding, “SUI acts as a bridge from Web2 to decentralized Web3 and has a user-friendly design.”
The Mysten Labs team involved in the development of the SUI blockchain includes experienced professionals from leading technology companies such as Microsoft, Apple, and Meta. Additionally, SUI uses an enhanced version of the Move programming language originally designed for Meta’s Diem crypto project, providing a strong foundation in scalability and user-centric design.
