This is the second exchange-traded cryptocurrency product from VanEck, after the company launched VanEck Vectors Bitcoin ETN in November 2020. The Ethereum platform has become a part of many digital applications based on a blockchain, such as smart contracts, tokenized material assets, or decentralised finance solutions. In order to ensure the security of the ETNs, VanEck is relying on a depository regulated in Liechtenstein. Here, cryptocurrencies are kept in ‘cold storage’, a way of holding cryptocurrency tokens offline, to prevent hackers from being able to access the holdings.
According to a VanEck representative, Ethereum represents an exciting investment opportunity with which investors can diversify their portfolio. By listing the VanEck Vectors Ethereum ETN in the regulated segment of Deutsche Börse Xetra, the new product can be bought and sold in the same way as other regulated exchange products.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now