VanEck Launches Europe’s First FTX ETP in Triple Crypto Launch
VanEck’s crypto range has expanded to ten products
VanEck has launched three crypto exchange-traded notes (ETNs) offering exposure to algorand, FTX, and terra cryptocurrencies.
The VanEck Algorand (VALG), VanEck FTX ETN (VFTX) and VanEck Terra ETN (VLUN) are listed at Boerse Stuttgart.
ETPs track indices of their respective digital assets provided by MVIS, VanEck’s in-house indexing arm.
Algorand was founded in 2017 with a consensus algorithm based on a proof-of-stake blockchain and a Byzantine MoU. Its platform supports smart contracts and its native cryptocurrency, ALGO.
VFTX will be the world’s first exchange-traded product to follow the FTX token, the native token of FTX, which is a cryptocurrency derivatives exchange offering futures, leveraged tokens, and over-the-counter trading. thank you.
Terra was created by Terraform Laboratories in 2018 and based on a proof-of-stake blockchain, it is the second largest decentralized finance (DeFi) protocol in the world after Ethereum, with a market capitalization of 29.8 billion. dollars.
The arrival of these three ETNs brings VanEck’s crypto offering to 10 strategies following the launch of the polygon and avalanche ETNs last December and the polkadot, solana and tron ETNs last September.
While VFTX is Europe’s first ETP to offer exposure to FTX, 21Shares has launched Europe’s first algorand and terra ETPs, the 21Shares Algorand ETP (ALGO) and 21Shares Terra ETP (LUNA), in November and January.