Skip to main content

Crypto Wealth Manager Vaneck Launches Polygon and Avalanche Investment Offerings

The wealth manager Vaneck has announced it has expanded its exchange-traded note (ETN) offerings to support the tokens polygon and avalanche. The two ETNs follow five previously launched funds in Europe that allow investors to gain exposure to leading digital assets.

Vaneck Adds Polygon and Avalanche to Its List of Cryptocurrency ETNs

Vaneck has announced the launch of two ETNs that leverage the crypto assets polygon (MATIC) and avalanche (AVAX). The ETNs represent shares of either AVAX or MATIC and the funds are fully collateralized. “Vaneck expands its crypto investment offering with two new ETNs on crypto platforms Avalanche and Polygon,” the wealth manager tweeted on December 16.

Avalanche and polygon have seen significant demand this year and have gathered massive gains year-to-date. The token avalanche (AVAX) has seen its market capitalization join the top ten digital assets in the world, in terms of overall valuation. Today, AVAX holds the 9th position after climbing 3,509% since this time last year.

Polygon (MATIC) has also risen in value a great deal in 2021 with year-to-date gains of around 11,393%. MATIC is the 14th largest crypto asset in terms of market capitalization today which is around $15 billion. Both MATIC and AVAX are compatible with Ethereum but are also considered Ethereum competitors.

Vaneck to Leverage Crypto Compare’s MVIS Data, Bank Frick to Custody Crypto Assets

The ETNs offered by Vaneck are like exchange-traded funds (ETFs) but ETNs are considered unsecured debt securities. Vaneck had tried to get its spot market bitcoin (BTC) ETF approved by the U.S. Securities and Exchange Commission this year but the ETF was denied in mid-November.

The Polygon and Avalanche ETNs use Crypto Compare’s MVIS data to replicate the value and yield performance of each asset. The underlying crypto assets in Vaneck’s ETNs are held in custody by Bank Frick & Co. AG. The AVAX ETN ticker will be “VAVA,” and the MATIC ETN ticker will be “VPOL.”

What do you think about Vaneck introducing Polygon and Avalanche ETNs? Let us know what you think about this subject in the comments section below.



from Bitcoin News https://ift.tt/3sxmQ7h

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

Seven UK Companies Form Cryptocurrency Trade Body

Seven major crypto companies operating in the UK have announced the formation an independent cryptocurrency trade body. The group, Crypto UK, has stated that its principal aim is to “improve industry standards and engage policymakers.” Also Read:   Independent Ratings Agency Alerts Investors About Dangers of Tether Leading Cryptocurrency Companies form Crypto UK Trade Body Seven leading cryptocurrency companies operating the UK have formed an independent trade body tasked with developing self-regulatory standards for the cryptocurrency industry, in addition to “engag[ing] policymakers.” The members of Crypto UK are Coinbase, Etoro, Cex.io, Blockex, Commerceblock, Coinshares, and Cryptocompare – comprising trading platforms, exchanges, asset managers, merchants, comparison websites, and intermediaries from the cryptocurrency sector. “Regulation is Imminent” The Crypto UK chairman and managing director of Etoro, Iqbal Gandham, described the trade body’s mission as “promot[in...
41 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more