VanEck has introduced an exchange-traded note (ETN) in Europe that follows the performance of PYTH, the native token of the Pyth Network. The ETN will be traded on Euronext Amsterdam and Euronext Paris, available to investors in 15 European countries. PYTH is the governance token of the Pyth Network, with a market capitalization of around $3.4 billion. The Pyth Network serves as a decentralized oracle protocol facilitating smart contracts to interact with off-chain data and other blockchain networks. VanEck's CEO, Martijn Rozemuller, highlighted the significance of oracle networks in enabling real-world applications for smart contracts. The VanEck Pyth ETN is collateralized with physical PYTH tokens held by Bank Frick in Liechtenstein. VanEck has a history of launching cryptocurrency products in Europe and the US, including ETFs for Bitcoin and Ethereum. The future of proposed crypto ETFs in the US may hinge on the outcome of the presidential election. Read more AI-generated news on: https://app.chaingpt.org/news