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VanEck Lists Crypto ETPs on Euronext Stock Exchanges in Amsterdam and Paris
The VanEck Vectors Bitcoin ETN and VanEck Vectors Ethereum ETN will be listed on the two exchanges in Europe on Tuesday with a total expense ratio of 1%.
New York-based investment management firm VanEck is listing cryptocurrency exchange-traded products (ETPs) on the Euronext stock exchanges in Amsterdam and Paris on June 1.
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- The investment firm said the VanEck Vectors Bitcoin exchange-traded note (ETN) and VanEck Vectors Ethereum ETN will both be listed on the two exchanges in Europe on Tuesday with a total expense ratio of 1%.
- The ETNs will give investors exposure to the price of bitcoin and ethereum without investors having to buy the crypto themselves. Both ETNs are fully collateralized and each ETN share represents the share of bitcoin or ethereum.
- VanEck will rely on Bank Frick as the custodian which is regulated in the European Economic Area country of Liechtenstein, where the cryptocurrencies held by the ETNs will be kept in cold storage to guarantee their security.
- An ETN is a type of unsecured debt security payable to the bearer that tracks an underlying asset or an index. In effect, investors gain exposure to an asset class without owning it.
- “Bitcoin and ethereum have firmly established themselves on the market as the two largest cryptocurrencies. Due to their low correlations to other asset classes, they provide an interesting opportunity to diversify one’s investment portfolio," says Martijn Rozemuller, CEO at VanEck Europe.
- Currently, a VanEck crypto ETN already trades on the Deutsche Börse Xetra market in Germany.
- In May, the investment firm launched a thematic exchange-traded fund (ETF) in Europe, the “VanEck Vectors Digital Assets Equity UCITS ETF,” offering exposure to companies in cryptocurrency and blockchain.
- Meanwhile, VanEck’s application to launch a bitcoin ETF in the U.S. is being considered by the Securities and Exchange Commission.
Read more: 21Shares Launching Stellar and Cardano ETPs on SIX Exchange
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
