Deutsche Boerse Lists Solana, Tron & Polkadot Crypto ETNs September 21, 2021 September 21, 2021 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Bitcoin NewsSeptember 21, 2021 by Kelly Cromley

Deutsche Boerse Lists Solana, Tron & Polkadot Crypto ETNs

VanEck, an international investment firm, has launched three fresh cryptocurrency ETNs on Europe’s largest stock market, Deutsche Borse. VanEck issued a media release announcing the formal listing of new Exchange Traded Notes (ETNs) on Solana (SOL), Tron (TRX), and Polkadot (POL) (DOT).

VanEck’s freshly listed ETNs on Deutsche Borse will complement its Bitcoin and Ethereum ETNs. VanEck has previously introduced exchange-traded products underpinned by BTC and ETH. Via exchange-traded funds, institutional investors have recently been able to acquire better access to the cryptocurrency market. These products also allow investors to get more involved in the cryptocurrency sector. Furthermore, the cryptocurrency ETNs will attract additional European investors.

The three digital currencies were chosen from among several 100 potential choices, as per a news statement issued by VanEck. In addition, cryptocurrencies were chosen because they fulfilled specific criteria. Their applications and usefulness, accessibility on exchanges, transaction volume, developers, proven record, and market value are among the criteria.

Solana’s quickness, quick trades per second, cheap transaction costs, and other features distinguished it from its competitors. As per FTX’s director of product, Ramnik Arora, Solana has evolved into a “institutional investable asset.” Arora expressed enthusiasm at the introduction of the Solana ETP on VanEck, claiming that it will boost involvement in the Solana environment.

Polkadot’s interoperability as a proof-of-stake (PoS) blockchain technology further sets it apart from the competition. TRON, on the other hand, has a quicker and lower transaction volume instead of other major digital currencies.

“The launching of the VanEck Vectors TRON ETN, on the footsteps of Bitcoin and Ether, is a testimony to TRON’s strong crypto environment and its effective push to extend our worldwide blueprint,” said Justin Sun, founder of the TRON Foundation.

Following the introduction of the world’s initial Bitcoin and Ether ETNs on the German stock market, VanEck introduced the aforesaid cryptocurrency ETN listings on Deutsche Borse.In spite of the large market capitalization of the top two cryptocurrencies, BTC and ETH, VanEck Europe CEO Martijn Rozemuller thinks that investors should be able to access a variety of cryptocurrencies.

Mentioning that there are around 10,000 cryptocurrencies on the market at the moment, Rozemuller stated that “no one understands which will be the most significant in ten years.” Additionally, the CEO alluded to the era when Nokia and Blackberry dominated the mobile phone industry.

The market is now dominated by iPhones and Samsung. Similarly, Rozemuller thinks that any unpopular cryptocurrency has the potential to dominate the crypto market in the future years.

VanEck may be the foremost wealth management firm in the United States to establish a Bitcoin exchange-traded fund. The Securities and Exchange Commission (SEC) disclosed VanEck’s Bitcoin ETF application in March. The cryptocurrency community is now awaiting the Commission’s verdict.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.