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Ethereum Killer ETFS

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Wall St titan VanEck is listing three new crypto ETNs in Germany

Germany

VanEck adds three new crypto ETNs

Wall St titan VanEck is listing three new crypto ETNs in Germany. They follow hot on the heels of 21Shares Solana and Polkadot ETPs, which launched last week on German exchanges.

 

  • VanEck Vectors Polkadot ETN
  • VanEck Vectors Solana ETN
  • VanEck Vectors TRON ETN

 

Each of the three ETNs tracks indexes built by VanEck subsidiary MVIS. They each hold the cryptocurrencies in cold storage and are fully collateralised.

 

Solana and Polkadot (as well as Cardano) are sometimes described as “Ethereum killers”. This is because they provide the same smart contract technology as ether but can process transactions faster and are more environmentally friendly. Smart contract cryptos have rallied strongly recently as NFTs increase their usage.

 

TRON is a new crypto for me. I was previously only aware of the Tron movies and arcade game. Judging by their websites it seems that all the other crypto ETP providers have declined to launch TRON ETPs. I wonder why. My reading of Wikipedia leads me to think TRON may have reputation problems as it has been accused of plagiarising its source code, having weak cybersecurity and being not really decentralised. However the reputation of its CEO Justin Sun, seems to be a reason for thinking this coin might have legs, combined with the nostalgic name

 

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Bernie Thurston

Bernie Thurston is the founder and CEO of Ultumus, a leading provider of ETF and index data, calculation, and workflow solutions. With over 20 years of experience in financial technology, Bernie has been at the forefront of index and ETF innovation since 2003.

His finance career began at Markit, where as Managing Director for Equities he designed and developed products for index and ETF composition and dividend forecasting from 2003 to 2011. He then founded and led DeltaOne Solutions as Managing Director, building it into a global provider of index and ETF trading data and technology services. The company managed over 100,000 multi-asset class products before being acquired by Markit in 2015.

Following the acquisition, while working for an ETF issuer, Bernie identified fundamental issues in how index and ETF data was represented across the industry. This led him to found Ultumus in 2016, building solutions for ETF primary market operations. Under his leadership, Ultumus has grown into a market leader serving major financial institutions globally, with its ETF Order Management System (OMS) supporting create and redeem workflows worldwide and its PCF platform calculating and distributing portfolio composition files for ETF issuers across every major market.

Bernie sold Ultumus to SIX Group in 2021, where it continues to expand across Europe, North America, and Asia-Pacific. Known for building lasting teams and leveraging cutting-edge technology, Bernie is focused on establishing Ultumus as the backbone of the global index and ETF industry through standardisation and automation.

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