VanEck has kicked off 2022 launching its first multi-token cryptocurrency fund.
Officials announced that last week, the firm’s European arm launched a new Exchange Traded Note (ETN) on the Deutsche Borse Xetra and SIX Swiss Exchange. The new offering provides investors access to a selected basket of the largest cryptocurrencies with the greatest liquidity. The ETN tracks six of the largest crypto assets, including Bitcoin, Ethereum and Solana.
European product introduction has eclipsed effort in the U.S. to offer a spot bitcoin ETF a reality. In Europe, investors have access to the spot prices across seven cryptocurrencies (Bitcoin, Ethereum, Polkadot, Solana, TRON, Avalanche and Polygon).
“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,” said Gijs Koning, co-head of VanEck Europe. “In early 2017, we determined 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.”
In the U.S., VanEck currently offers a range of digital asset private funds for high-net-worth individuals and institutions, as well as several exchange traded funds. One exchange traded fund provides exposure to companies that are driving innovation and adoption in the digital assets economy, while another provides a unique actively managed approach to investing in bitcoin futures.
VanEck manages approximately $81.7 billion in assets, including mutual funds, ETFs and institutional accounts.