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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