The big-name asset management firm has just rolled out a new exchange-traded note based on the Sui blockchain.
This shiny new product is now listed on Euronext Amsterdam and Euronext Paris, making it accessible to investors across 15 European countries.
What’s the deal with Sui?
So, what exactly is this Sui ETN all about? Well, it allows European investors to dip their toes into the Sui blockchain without needing to buy or hold the actual tokens, in a similar way like with an ETF.
Instead of wrestling with wallets and exchanges, they can simply invest through this ETN.
VanEck plans to allocate 90% of its reserves to Bitcoin, but this new product highlights their commitment to diversifying into innovative blockchain technologies.
The Sui blockchain, developed by Mysten Labs, is designed for speed and scalability.
Unlike older blockchains like Bitcoin and Ethereum that process transactions one at a time, Sui can handle multiple transactions simultaneously.
This makes it perfect for applications in DeFi and gaming, two hot areas right now.
Positive echo
Gap Kim, Head of Marketing for the Sui Foundation, couldn’t contain his excitement about VanEck’s move.
He called it a pivotal moment for the Sui ecosystem and a solid endorsement of its technology.
Meanwhile, Menno Martens, VanEck’s Crypto Specialist and Product Manager, praised Sui as one of the most advanced blockchain networks available today.
He highlighted its user-friendly design and low transaction costs as key advantages. And it seems VanEck isn’t just stopping at the Sui ETN.
On October 30, they introduced staking rewards for their Solana ETN, allowing investors to earn rewards daily after purchasing.
They’re also launching a new PYTH-based ETN available in those same 15 European countries.
Expansion
This series of launches shows that VanEck is serious about expanding its crypto offerings and catering to growing investor interest in digital assets.
As cryptocurrencies continue to gain traction in traditional finance circles, VanEck’s latest move positions them as a key player in the European market.
By offering innovative products like the Sui ETN, they’re not just keeping up with trends, but they’re helping shape the future of digital investments.
