VanEck Launches SUI-Based ETN in Europe: New Investment Opportunities for SUI Token

VanEck Launches SUI-based ETN in Europe

VanEck, an American investment management firm, has launched a new SUI-based exchange-traded note (ETN) listed on Euronext Amsterdam and Euronext Paris. This move provides access to European investors in over 15 countries, enabling them to invest in the SUI token without directly holding it.

Key Features of the New ETN

The new ETN allows European investors to gain exposure to the SUI token easily. VanEck will use Bank Frick, a regulated custodian in Liechtenstein, to uphold security standards for the ETN.

Gap Kim, Head of Marketing for the Sui Foundation, noted that the ETN represents a crucial moment for the Sui ecosystem. He stated that VanEck’s decision to offer SUI reflects a growing institutional interest in Sui’s technology.

Menno Martens, a Crypto Specialist at VanEck, praised Sui as an innovative leader in blockchain. He highlighted Sui’s capacity to handle increasing blockchain transactions due to its simple scalability and user-friendly design. He also mentioned its low transaction costs as a significant advantage.

CEO Martijn Rozemuller echoed these sentiments, stating that SUI’s high transaction speeds and low costs will meet the needs of an expanding blockchain market.

Additional Offerings from VanEck

On October 30, 2023, VanEck introduced staking rewards for its Solana ETN. Investors can join the staking program after purchase. Rewards are calculated daily, with a 25% fee.

VanEck ensures that Solana tokens backing the ETN are used for staking, which is secured in cold storage. Rewards from staking are reinvested daily, enhancing the value of the ETN.

VanEck has also launched a new PYTH-based ETN, available in 15 European countries.