Big news in the digital asset space: VanEck has launched an exchange-traded note (Pyth ETN) in Europe that tracks the Pyth Network’s native token, PYTH. European investors can now get exposure to a decentralized Oracle network that bridges the gap between real-world data and blockchain applications.
VanEck’s Strategic Expansion into European Crypto Markets
The VanEck Pyth ETN is listed on Euronext Amsterdam and Euronext Paris and is available to investors in 15 European countries, including Germany, France, Norway and Switzerland. This is part of VanEck’s broader strategy to expand its presence in the European crypto ETN market, where it has already launched over a dozen products covering various digital assets, including Solana and Chainlink.
Martijn Rozemuller, VanEck Europe CEO says: “Smart contracts are getting more important in finance, oracles are key.”
Understanding the Pyth Network and Its Significance
The Pyth Network is a decentralized oracle protocol that allows smart contracts to talk to off-chain data and cross-chain with other blockchain networks. We specialize in high-frequency data and source directly from exchanges, trading firms and financial institutions so we can be accurate and reliable.
We provide real-time market data for cryptocurrencies, equities, forex, ETFs and commodities. We fill a critical gap in the decentralized finance (DeFi) space. Our low latency price feeds enable smart contracts to be more functional and secure so you can offer more complex financial services in the blockchain.
Key Features of the VanEck Pyth ETN
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The VanEck Pyth ETN is fully backed by physical PYTH tokens held in custody by Bank Frick in Liechtenstein. It tracks the MarketVector Pyth Network VWAP Close Index so the ETN’s performance will mirror the underlying. With a total expense ratio of 1.5% it’s a low cost way for investors to get exposure to the Pyth Network.
The Pyth Network’s native token, PYTH, has a fully diluted market cap of around $3.4bn, so it’s a growing player in the crypto space. This ETN gives European investors a regulated and accessible way to participate in the network and the broader DeFi landscape.
VanEck’s Commitment to Innovation in Digital Assets
VanEck’s launch of the Pyth ETN shows its commitment to innovation and growth in the digital asset space. In addition to its European offerings, VanEck has launched two spot crypto ETFs in the US: the VanEck Bitcoin ETF (HODL) and the VanEck Ethereum ETF (ETHV). These give investors direct exposure to the top cryptos, making VanEck a crypto investment solutions pioneer.
By expanding its digital asset portfolio, VanEck is giving investors access to a wide range of opportunities in the fast-moving crypto space. Its strategic moves demonstrate a deep understanding of the power of blockchain and its applications in finance.
The Final Thoughts
The introduction of the Van Eck Pyth Exchange Traded Note (ETNs) marks progress in granting investors access to decentralized oracle networks efficiently and effectively. As the Pyth Network continues to play a role in merging real-world data with applications, this ETN provides a regulated and smooth way for investors to participate in the growing DeFi ecosystem. Van Eck’s consistent dedication to innovation and growth in the asset sector places it as an enabler at the convergence of traditional finance and emerging blockchain technologies.
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