VanEck's recently announced PYTH ETN exchange-traded bond is designed to provide access to the Pyth Network, which provides real-time financial data on a blockchain platform.
ETN allows traditional investors to track #PYTH performance without the complexities associated with owning digital assets.
VanEck has developed this product in response to the growing demand for #blockchain technology in Europe and is backed by the trusted first-party data source PyTH Network, supported by #Solana .
In partnership with the regulated Frick Bank in Liechtenstein, VanEck will provide secure cold storage for the assets underlying the PYTH ETN, providing enhanced protection against cyber threats.
The launch complements the company's suite of #cryptocurrency ETNs, which includes bitcoin and Ethereum-based products focused on investor safety when connecting to the cryptocurrency market.
Along with the PYTH ETN, VanEck has also launched VanEck Ventures, a $30 million venture capital fund to support early-stage cryptocurrency and artificial intelligence projects. The fund will focus on stable coins, cross-border payments and blockchain technology to drive growth in the digital asset sector.
The announcement coincided with a slight increase in the price of Solana, which has risen 4% to $ 168 in the past 24 hours.
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