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VanEck Expands its ETN Offerings with Polygon and Avalanche

VanEck Expands its ETN Offerings with Polygon and Avalanche

VanEck’s cryptocurrency offerings now include seven Exchange-Traded Notes, due to the additions of Polygon and Avalanche.

VanEck, a worldwide investment, has added two new Exchange-Traded Notes (ETNs) to its crypto portfolio, monitoring the performance of Avalanche and Polygon. Such items have previously been released on Bitcoin, Ethereum, Solana, Polkadot, and Tron.

Polygon And Avalanche ETNs have been added to the list

VanEck, a multinational financial management company, announced the news in a new Twitter post. As a result, investors will be able to invest in Polygon (Matic) and Avalanche (AVAX) without having to buy the digital assets themselves.

The VanEck Vectors Polygon ETN (ticker: VPOL) invests in MATIC and is fully collateralized (the native token of the network). The ETN provides direct exposure to the digital asset, is 100 percent supported by Polygon, and is kept in cold storage at a “registered crypto custodian with crypto insurance.” On regulated trading platforms, VPOL can be traded like an ETF.

The VanEck Vectors Avalanche ETN (ticker: VAVA) is the same as the VanEck Vectors Avalanche ETN (ticker: VAVA). It is, however, “unique for its rapid speeds and low hardware requirements,” according to the business.

VanEck already added ETNs on Solana, Ethereum, Polkadot, Bitcoin, and Tron, and Polygon and Avalanche have now joined them.

In recent months, investment firms have become increasingly interested in launching bitcoin Exchange-Traded Products. 21 Shares, a Swiss financial services company, recently listed Bitcoin and Ethereum ETNs on Nasdaq Stockholm.

VanEck was turned down

The company applied to the Securities and Exchange Commission (SEC) for permission to launch a Bitcoin Strategy Exchange-Traded Fund a few months ago. BTC futures, BTC funds, and other investment instruments relating to the largest digital currency were supposed to be included in the package. This was not the first time the company had applied to the agency for a BTC ETF, but it had so far been unsuccessful.

The firm’s objectives were once again rebuffed by the top banking regulator in November. VanEck was unable to overcome earlier obstacles, according to the SEC, which was “intended to prevent fraudulent and deceptive conduct and practices” as well as “to safeguard investors and the public interest.”

The Author

Samuel Adeshina

Samuel is a financial reporter whose interests include blockchain, market, business, insurance, and Crypto to provide relevant information to all interested.