VanEck lists Algorand, Terra, FTX Token, Avalanche and Polygon ETNs on Xetra

VanEck complements its existing offering of digital assets with three new ETNs on Algorand, Terra, the FTX Token

Sign up to our free newsletters

Martijn Rozemuller, CEO at VanEck Europe

– Additionally, it lists its existing Avalanche and Polygon ETNs on Xetra

– With these initiatives, VanEck is further expanding its pioneering role in innovative and future-oriented investment solutions

Tomorrow asset manager VanEck will list five more crypto ETNs on Deutsche Börse Xetra. This will be the first listing of Algorand, Terra, FTX Token, Avalanche and Polygon ETNs on Xetra. Avalanche and Polygon ETNs were already listed on SIX Swiss Exchange.

VanEck is thus further opening up the future market of digital assets for European investors, having already offered exchange-traded products on Bitcoin, Ethereum, and other cryptocurrencies.

VanEck now offers eleven ETNs on various cryptocurrencies, including a basket of some of the largest cryptocurrencies, further expanding its pioneering role for innovative and future-oriented investment solutions.

VanEck had already launched a fully collateralised ETN on Bitcoin in 2020. “As the top dog in the crypto market, the Bitcoin ETN is a core part of our line-up. However, younger platforms in particular offer many advantages, such as lower transaction costs or faster processes,” observes Martijn Rozemuller, CEO at VanEck Europe. “In addition, cryptocurrencies are a good way to diversify one’s portfolio due to their low correlation to other asset classes,” Rozemuller adds. “But the market continues to be in flux: There are now more than 10,000 different cryptocurrencies, and no one knows which networks will be the most important in ten years.”

The most cost-effective ETN solutions for Algorand, Terra, FTX Token, Avalanche and Polygon on the market

The five ETNs allow investors to participate in the performance of cyber currencies on an exchange-traded basis without having to buy them directly. With total costs of 1.5 percent, VanEck currently offers the most cost-effective solution on the market. The selection was based on seven criteria: Uses and functionality, number of transactions, availability on exchanges, track record and development team, as well as market cap. For the new ETNs, VanEck chose Algorand, Terra and FTX Token:

– Algorand is a scalable, decentralised and secure platform for digital currencies and smart contracts. The platform, with its ALGO token, is the first of its kind to use a novel Pure Proof of Stake (Pure PoS or PPoS) consensus mechanism to validate transactions as quickly as possible. Unlike other PoS models, there is no risk of staked funds from validators or users being cut through slashing. However malicious actors are cut on their staking rewards. Founded by MIT professor and Turing Prize winner Silvio Micali, Algorand, unlike first-generation blockchain providers, completes blocks within seconds and is designed to enable instant transaction execution. Basically, the Algorand Foundation, a non-profit organisation based in Singapore, is pursuing the ambitious goal of removing all technical obstacles that hinder the commercial breakthrough of blockchain technology.

– The Terra network with the “LUNA” token as its native cryptocurrency is the leading decentralised and open-source blockchain protocol for payment solutions. Using a combination of open-market arbitrage incentives and decentralised Oracle voting, it generates stablecoins that can consistently track the price of any fiat currency. Users can spend, save, trade or exchange Terra stablecoins instantly, all on the Terra blockchain. The holders of the LUNA token have a right of co-determination and receive bonuses for using stablecoins. Terra has been in existence since 2018, and the co-founder and CEO of Terraform Labs is the Korean Do Kwon. His goal is to build an entirely new financial system with the Terra Blockchain ecosystem.

– The FTX token (“FTT”) has been the native utility token of the FTX trading platform since July 2019. It is available for staking and offers attractive benefits and discounts to holders. This gives FTT users a voice in new developments and voting related to the FTX trading exchange, which has been in place since April 2019. Among their supporters is Alameda Research, one of the largest trading firms in the world, with a daily trading volume of between USD 600 million and USD 1 billion. The FTX exchange focuses on cryptocurrency derivatives trading, creating a platform by and for traders. FTX is developing rapidly and has made a name for itself, especially with the addition of new features at a tremendous pace, increasingly leaving the competition behind. What’s more, FTX already has more liquidity than any other futures exchange in the crypto scene

Source: ETFWorld