Vaneck Wealth Manager has made it clear that its ETN offerings have been expanded to accommodate the tokens polygon (avalanche) and avalanche. Two ETNs are following five funds previously established in Europe, which allow investors to be exposed to top digital assets.
Vaneck adds Polygon and Avalanche on its List of Cryptocurrency Exchange Networks
Vaneck announcedThe launch of two ETNs, which leverage crypto assets polygon(MATIC) or avalanche (“AVAX”) ETNs are shares in AVAX and MATIC, with full collateralization. “Vaneck expands its crypto investment offering with two new ETNs on crypto platforms Avalanche and Polygon,” the wealth manager tweeted on December 16.
Polygon and Avalanche have enjoyed significant demand and have made huge gains in the past year. Avalanche token (AVAX), which has a market capitalization of $1 billion, is now among the most valuable digital assets worldwide in terms overall value. AVAX currently holds the 9th spot, after rising 3,509% over last year.
Polygon (MATIC), has experienced a significant increase in value over the past year, with an average gain of 11,393%. MATIC, which has a market cap of around $15 billion, is currently the 14th most valuable crypto asset. MATIC and AVAX can be used with Ethereum, but they are considered to also be Ethereum rivals.
Vaneck to Leverage Crypto Compare’s MVIS Data, Bank Frick to Custody Crypto Assets
Vaneck offers ETNs that are similar to exchange-traded funds, but ETNs can be considered secured debt securities. Vaneck tried to have its spot-market bitcoin (BTC), ETF approved this year by the U.S Securities and Exchange Commission, but it was rejected in 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.”
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