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.”
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