VanEck Launches Its First Multi-Token Crypto Fund

Leading global asset manager, VanEck, just launched a new Exchange Traded Note (ETN) that allows its European investors to invest in six of the largest crypto assets, including bitcoin, Ethereum, and Solana.

VanEck announced the launch of Its First Multi-Token Cryptocurrency Fund. The fund will be listed as an exchange-traded note, or ETN, on the Deutsche Borse Xetra and SIX Swiss exchanges with exposure to Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT), Solana (SOL), Tron (TRX), Avalanche (AVAX) and Polygon (MATIC).

VanEck has launched a new #ETN that offers a simple, bundled investment for six of the largest #cryptocurrencies. Currently, the index includes the six crypto assets #Bitcoin, #Ethereum, #Solana, #Cardano, #Polkadot and #Litecoin. More information: https://t.co/GyQ9bKRDgi pic.twitter.com/w0rGUt74kW

— VanEck Europe (@vaneck_eu) January 27, 2022

VanEck- A Detailed Picture

Gijs Koning, co-head of VanEck Europe said the company had realised that digital assets could provide a store of value alternative to currencies and gold, as well as a host of technology solutions that could bring down costs in the payments and investing industries. He emphasized on the importance to facilitate investment in digital currencies to help investors through regulated investment structures. Koning went on to add,

“We were first to market in Europe with many of these exposures because we’re believers in the transformative nature of the underlying technologies, and because providing exposure to transformative investments is at the core of our firm’s DNA.”

Founded in 1955, VanEck started as a platform to bring post-World War II investment opportunities to U.S. investors. The organization was one of the first U.S. asset managers to offer investors access to international markets. Today, the financial institution has $82 billion in assets under management with exchange-traded funds, or ETFs, mutual funds and institutional accounts

VanEck provides in-depth research and commentary to help investors better understand new developments and critical updates around DeFi, smart contracts, crypto categorization, among other parameters. Head of Digital Assets Research at VanEck, Matthew Sigel remarked,

“Education must keep pace with innovation, and for us, the two go hand in hand. We’re excited about all we have built on the digital assets front at VanEck but are even more excited about all that is still to come.”

VanEck’s Tryst With SEC

This comes on the heels after the U.S. Securities and Exchange Commission rejected VanEck’s Bitcoin spot ETF application last year. The SEC stated that the underlying exchange responsible for listing the ETF, Cboe BZX, did not have a proper “surveillance-sharing agreement with markets trading the underlying assets [of Bitcoin].” While VanEck’s cryptocurrency financial products have started to gain traction in Europe, they face regulatory hurdles in the United States. The firm’s offerings are limited to private digital currency funds for institutional investors and only stock-based ETFs comprised of companies utilizing blockchain technology.