Crypto News

VanEck adds Polygon and Avalanche to its ETN offerings

                                                            <span data-preserver-spaces="true">Der globale Investmentmanager – VanEck – hat sein Cryptowährungsangebot um zwei neue Exchange-Traded Notes (ETNs) erweitert, die die Wertentwicklung von Avalanche und Polygon.  Das Unternehmen hat bereits solche Produkte auf Bitcoin eingeführt, Ethereum, Polkadot, Solana und Tron.</span>

Avalanche and Polygon ETNs joined the list

Global investment management company – VanEck – announced the news in a recent post on Twitter. As a result, investors can invest in Polygon (Matic) and Avalanche (AVAX) without the need to buy the digital assets directly.

VanEck is expanding its #crypto-investment offer with two new ETNs on crypto platforms #Avalanche and #Polygon. Further information at https://t.co/mO3qOHWBGX and https://t.co/IUf67GSBUV. pic.twitter.com/lkzHgza813

– VanEck Europe (@vaneck_eu) December 16, 2021

The VanEck Vectors Polygon ETN (ticker: VPOL) is fully secured and invests in MATIC (the network’s native token). The exchange-traded note offers direct access to the digital asset, is 100% supported by Polygon and is stored in a cold store with a “regulated crypto custodian with crypto insurance”. VPOL can also be traded on regulated trading venues like an ETF.

The VanEck vectors Avalanche ETN (ticker: VAVA) works identically. However, the company described it as “unique for its high speeds and light hardware specifications”.

Polygon and Avalanche joined Bitcoin, Ethereum, Polkadot, Solana and Tron as VanEck had previously also added ETNs to these digital assets.

The introduction of exchange-traded cryptocurrency products by investment companies has become increasingly popular in recent months. A few days ago, the Swiss-based financial services company – 21Shares – launched Bitcoin and Ethereum ETNs on Nasdaq Stockholm.

VanEck was rejected

A few months ago, the company applied for approval from the Securities and Exchange Commission to launch an exchange-traded Bitcoin Strategy Fund. The product should contain BTC futures, BTC funds, and various other investment vehicles related to the largest digital asset. This wasn’t the first time the company has filed BTC ETF applications with the agency, but so far to no avail.

In November, the top financial regulator again denied the company’s ambitions. The SEC stated that VanEck was unable to overcome previous hurdles designed to “prevent fraudulent and manipulative acts and practices” and “protect investors and the public interest”.

Subsequently, the chairman of the commission – Gary Gensler – claimed that a futures-backed ETF was safer for investors, which is why only such funds have been given the green light in the States so far.

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Source: Crypto News Deutsch

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