VanEck lists PYTH ETN in Europe.
VanEck has listed an exchange-traded note (ETN) that tracks the performance of Pyth Network's native token PYTH in Europe, the asset manager said on Nov. 5, 2010.
The VanEck Pyth ETN trades on Euronext Amsterdam and Euronext Paris, the asset manager said. Investors are present in 15 European countries, including Germany, France, Norway and Switzerland.
The Paiz Network is a decentralized protocol designed to allow smart contracts to interact with off-chain data and connect to other blockchain networks.
PYTH is the administrative symbol of the Pyth Network. It has a fully leveraged market capitalization of nearly $3.4 billion, according to CoinMarketCap.
“Smart contracts based on blockchain technology are gaining importance in the financial world due to their many applications, and Oracle Networks will play a critical role in enabling real-world use of smart contracts,” said Martin Rosemüller, CEO of VanKeck Europe, in a statement. .
“It has the potential to be a critical component,” says Paiz Network. [decentralized finance] Application infrastructure,” added Rozemuller.
Source: CoinMarketCap
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An ETN is a debt instrument designed to track the performance of an asset.
The VanEck Pyth ETN is designed to perform in tandem with the MarketVector Pyth Network VWAP Close Index.
It is fully collateralized with the physical PYTH tokens held by Liechtenstein-based custodian bank Freak, VanEyck said.
VanEck has unveiled more than a dozen exchange-traded crypto products in Europe, covering digital assets ranging from Solana (SOL) to ChainLink (LINK).
It has also launched two crypto exchange-traded funds (ETFs) in the United States: VanEck Bitcoin ETH (HODL) and VanEck Ethereum ETF (ETHV).
The November 5th US presidential election could determine the fate of more than half a dozen proposed crypto ETFs awaiting the green light from regulators.
In the year In 2024, asset managers filed multiple regulatory filings to list ETFs holding altcoins, including SOL, XRP (XRP) and Litecoin (LTC), among others.
A number of proposed crypto index ETFs designed to hold different baskets of issuers are awaiting approval.
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