Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
VanEck launches Pyth ETN in Europe

VanEck launches Pyth ETN in Europe

Cryptobriefing2024/11/06 10:22
By:Cryptobriefing

Key Takeaways

  • VanEck has launched an ETN tracking the Pyth Network's native token on Euronext Amsterdam and Paris.
  • The Pyth Network provides high-frequency data and enables smart contracts to interact with off-chain data.

Share this article

VanEck launched a new ETN in Europe, tracking the Pyth Network’s native token, PYTH, announced in a press release earlier today.

The ETN, listed on Euronext Amsterdam and Euronext Paris, will be available to investors across 15 European countries, including Germany, France, Norway, and Switzerland.

Providing investors with exposure to the PYTH token, the ETN holds a fully diluted market capitalization of approximately $3.4 billion.

“Smart contracts are becoming increasingly important in finance, and oracle networks are key to enabling real-world applications,” said Martijn Rozemuller, CEO of VanEck Europe.

The Pyth Network operates as a decentralized oracle protocol, enabling smart contracts to interact with off-chain data and communicate with other blockchain networks.

The network specializes in high-frequency data, sourcing directly from exchanges, trading firms, and financial institutions.

The VanEck Pyth ETN tracks the MarketVector Pyth Network VWAP Close Index and is fully collateralized with physical PYTH tokens, held in custody by Liechtenstein-based Bank Frick, with a total expense ratio of 1.5%.

VanEck has established a significant presence in the European crypto ETN market with more than a dozen products covering various digital assets, including Solana and Chainlink.

The asset manager has also launched two spot crypto exchange-traded funds in the US: VanEck Bitcoin ETF (HODL) and VanEck Ethereum ETF (ETHV).

Share this article

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!