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š„š„ VanEck introduces SUI ETN to European investors as token hits all-time high
VanEck, a global asset management firm and US spot Bitcoin ETF issuer has launched a new exchange-traded note (ETN) tied to the SUI token from the Sui blockchain network, according to a Nov. 13 statement.
The ETN, now available on Euronext Amsterdam and Euronext Paris, allows European investors in over 15 countries to gain exposure to SUI without directly holding the asset.
The product tracks the MarketVector Sui Network VWAP Close Index and is fully backed by SUI tokens held with Liechtensteinās Bank Frick. It has a total expense ratio of 1.5%.
VanEckās SUI ETN comes as the digital asset has experienced increasing massive adoption that has pushed its value to a new all-time high of $3.31.
š¶$ Why SUI?
VanEck explained that it selected Sui for its ETN due to the blockchainās high performance and user-friendly design.
Sui, a decentralized smart contract platform, aims to process transactions quickly and efficiently. Unlike older blockchains like Bitcoin and Ethereum, which process transactions sequentially and often incur delays and high costs, Sui can handle multiple transactions simultaneously. This capability makes Sui ideal for applications requiring real-time transactions, such as financial services and gaming.
In an earlier November report, VanEck stated that Sui provides a familiar user experience to most internet users because it is āfast, user-friendly, and affordable as platforms like Facebook, Twitter, and Robinhood.ā
Menno Martens, Crypto Product Manager at VanEck Europe, emphasized Suiās scalability and cost-effectiveness. He added:
āIn our view, this network has strong growth potential, because its consistently low transaction costs make it a real alternative to older blockchains. The VanEck Sui ETN gives investors the opportunity to participate in the development of this promising blockchain network in an exchange-traded and comparatively simple way.ā
#SUI #VanEck
VanEck, a global asset management firm and US spot Bitcoin ETF issuer has launched a new exchange-traded note (ETN) tied to the SUI token from the Sui blockchain network, according to a Nov. 13 statement.
The ETN, now available on Euronext Amsterdam and Euronext Paris, allows European investors in over 15 countries to gain exposure to SUI without directly holding the asset.
The product tracks the MarketVector Sui Network VWAP Close Index and is fully backed by SUI tokens held with Liechtensteinās Bank Frick. It has a total expense ratio of 1.5%.
VanEckās SUI ETN comes as the digital asset has experienced increasing massive adoption that has pushed its value to a new all-time high of $3.31.
š¶$ Why SUI?
VanEck explained that it selected Sui for its ETN due to the blockchainās high performance and user-friendly design.
Sui, a decentralized smart contract platform, aims to process transactions quickly and efficiently. Unlike older blockchains like Bitcoin and Ethereum, which process transactions sequentially and often incur delays and high costs, Sui can handle multiple transactions simultaneously. This capability makes Sui ideal for applications requiring real-time transactions, such as financial services and gaming.
In an earlier November report, VanEck stated that Sui provides a familiar user experience to most internet users because it is āfast, user-friendly, and affordable as platforms like Facebook, Twitter, and Robinhood.ā
Menno Martens, Crypto Product Manager at VanEck Europe, emphasized Suiās scalability and cost-effectiveness. He added:
āIn our view, this network has strong growth potential, because its consistently low transaction costs make it a real alternative to older blockchains. The VanEck Sui ETN gives investors the opportunity to participate in the development of this promising blockchain network in an exchange-traded and comparatively simple way.ā
#SUI #VanEck
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