The global investment manager VanEck is expanding its cryptocurrency offerings by adding two new Exchange-Traded Notes (ETNs) tracking the performance of Avalanche and Polygon. The investment management company has already launched such products on Bitcoin, Ethereum, Polkadot, Solana, and Tron. VanEck disclosed the news in a recent post on Twitter. Investors will be able to gain exposure to Polygon (Matic) and Avalanche (AVAX) without the necessity to purchase the digital assets directly.
VanEck Vectors Polygon ETN is fully collateralized and invests in MATIC.
The VanEck Vectors Polygon ETN (ticker: VPOL) is fully collateralized and invests in MATIC-the native token of the network. The Exchange-Traded Note provides direct exposure to the digital asset, is 100% backed by Polygon, and is stored in cold storage at a “regulated crypto custodian with crypto insurance.” VPOL is also tradable like an ETF on regulated trading venues. The VanEck Vectors Avalanche ETN (ticker: VAVA) operates identically. However, the company described it as “unique for its fast speeds and light hardware specs.”
VanEck previously added ETNs on Bitcoin and Etherum.
As reported earlier, Polygon and Avalanche joined Bitcoin, Ethereum, Polkadot, Solana, and Tron as VanEck previously added ETNs on those digital assets, too. Launching cryptocurrency Exchange-Traded Products by investment companies has become increasingly popular in the last few months. A few days ago, the Swiss-based financial services firm – 21Shares – listed Bitcoin and Ethereum ETNs on Nasdaq Stockholm. As reported earlier, the investment management firm sought approval from the Securities and Exchange Commission to release a Bitcoin Strategy Exchange-Traded Fund. The product was meant to contain BTC futures, BTC funds, and various other investment instruments related to the largest digital asset.
