Crypto News

Crypto Wealth Manager Vaneck Launches Polygon and Avalanche Investment Offerings – Bitcoin News

The wealth supervisor Vaneck has introduced it has expanded its exchange-traded be aware (ETN) choices to assist the tokens polygon and avalanche. The two ETNs comply with 5 beforehand launched funds in Europe that enable traders to realize publicity to main digital belongings.

Vaneck Adds Polygon and Avalanche to Its List of Cryptocurrency ETNs

Vaneck has announced the launch of two ETNs that leverage the crypto belongings polygon (MATIC) and avalanche (AVAX). The ETNs signify shares of both AVAX or MATIC and the funds are totally collateralized. “Vaneck expands its crypto investment offering with two new ETNs on crypto platforms Avalanche and Polygon,” the wealth supervisor tweeted on December 16.

Avalanche and polygon have seen important demand this 12 months and have gathered large good points year-to-date. The token avalanche (AVAX) has seen its market capitalization be part of the highest ten digital belongings on this planet, by way of general valuation. Today, AVAX holds the ninth place after climbing 3,509% since this time final 12 months.

Polygon (MATIC) has additionally risen in worth an ideal deal in 2021 with year-to-date good points of round 11,393%. MATIC is the 14th largest crypto asset by way of market capitalization as we speak which is round $15 billion. Both MATIC and AVAX are suitable with Ethereum however are additionally thought of Ethereum opponents.

Vaneck to Leverage Crypto Compare’s MVIS Data, Bank Frick to Custody Crypto Assets

The ETNs provided by Vaneck are like exchange-traded funds (ETFs) however ETNs are thought of unsecured debt securities. Vaneck had tried to get its spot market bitcoin (BTC) ETF authorised by the U.S. Securities and Exchange Commission this 12 months however the ETF was denied in mid-November.

The Polygon and Avalanche ETNs use Crypto Compare’s MVIS information to copy the worth and yield efficiency of every asset. The underlying crypto belongings in Vaneck’s ETNs are held in custody by Bank Frick & Co. AG. The AVAX ETN ticker will likely be “VAVA,” and the MATIC ETN ticker will likely be “VPOL.”

Tags on this story
Avalanche, Avalanche (AVAX), AVAX, Bank Frick, Bitcoin (BTC), crypto belongings, Digital Currencies, etn, change traded notes, matic, Polygon, Polygon (MATIC), vaneck, Vaneck ETNs, VAVA, VPOL, wealth supervisor

What do you concentrate on Vaneck introducing Polygon and Avalanche ETNs? Let us know what you concentrate on this topic within the feedback part beneath.

Jamie Redman

Jamie Redman is the News Lead at News and a monetary tech journalist residing in Florida. Redman has been an energetic member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 4,900 articles for News in regards to the disruptive protocols rising as we speak.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational functions solely. It will not be a direct supply or solicitation of a suggestion to purchase or promote, or a suggestion or endorsement of any merchandise, providers, or firms. doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the writer is accountable, straight or not directly, for any harm or loss prompted or alleged to be attributable to or in reference to using or reliance on any content material, items or providers talked about on this article.

Related posts

Global Crypto Owners Predicted to Surpass 1 Billion This Year – Featured Bitcoin News

Crypto Advisor

Bitcoin Faces Hurdle, Why BTC Could Resume Downtrend

Crypto Advisor

Venezuela Increases Minimum Monthly Wage to Half a Petro – Emerging Markets Bitcoin News

Crypto Advisor

Leave a Comment