VanEck Launches SUI-Based Exchange-Traded Note (ETN) on Euronext Amsterdam and Euronext Paris

Asset Manager VanEck launched a new SUI-based exchange-traded note (ETN), now listed on Euronext Amsterdam and Euronext Paris.

Asset Manager VanEck announced the launch of a new SUI-based exchange-traded note (ETN), now listed on Euronext Amsterdam and Euronext Paris. With these listings, the new ETN is available to over 15 European countries, increasing the exposure of European investors to the SUI token.

The ETN, which will be available to European investors, is designed to provide exposure to the price of the SUI token. It will be listed on Euronext Amsterdam and Euronext Paris, and will be available in both Euro and US Dollar denominations.

VanEck, an American Investment Management firm, has expanded its reach in the European markets with a new SUI exchange-traded note (ETN). The asset manager announced its ETN listing on Euronext Amsterdam and Euronext Paris in a press statement.

With the new ETN, European investors can access SUI without buying or holding the token directly in their wallets. Moreover, the firm will depend on Bank Frick, a custodian regulated in the EEA country of Liechtenstein, to implement security protocols for its ETN.

Commenting on the launch, Gap Kim, Head of Marketing for the Sui Foundation, said:

“The creation of this SUI-based product by VanEck is a pivotal moment for the Sui ecosystem and a significant vote of confidence in Sui’s technology and long-term vision.”

He added that VanEck is a trusted leader in the investment industry, and the decision to offer SUI as part of their product suite underscores the growing institutional interest in Sui.

Menno Martens, Crypto Specialist and Product Manager at VanEck, also expressed his excitement about launching the ETN, acknowledging Sui as an innovative industry leader. He even referred to Sui’s network as “one of the most advanced blockchain networks available today”.

Martens also praised Sui’s simple scalability and user-friendly design, saying it can handle the growing demand for blockchain-based transactions. He believes the Sui network has “strong growth potential” due to its low transaction costs compared to other blockchains.

CEO Martijn Rozemuller also shared the same view, emphasizing that SUI’s high transaction speeds and low costs will meet the demands of growing blockchain-based solutions.

VanEck also introduced staking rewards to its Solana ETN

On October 30, VanEck added staking rewards to its Solana ETN. Investors can now opt into the VanEck Solana ETN staking program at the time of purchase. Rewards are then calculated and distributed daily, with a 25% staking fee.

VanEck ensures that the custodian assigns the Solana tokens backing the ETN as collateral to a validator for staking. The delegated SOL tokens are securely stored in cold storage at the custodian. Any rewards generated are reinvested daily, after fee deductions, to increase the ETN’s value in Solana.

The firm also introduced a new PYTH-based ETN, available in 15 European countries.