VanEck Added Avalanche And Polygon To Its ETN Offering

VanEck added Avalanche and Polygon to its Exchange Traded Notes offerings as we can see more today in our latest blockchain news.

The global investment manager VanEck expanded its crypto offerings by adding two new Exchange-traded Notes that track the performance of Polygon and Avalanche. The company already launched these products in Bitcoin, Polkadot, Solana, Ethereum, and Tron. The global investment management company VanEck added Avalanche and Polygon to its ETN offerings and now as a result, the investors will be able to gain exposure to MATIC and AVAX without the necessity to purchase the digital assets directly.

VanEck expands its #crypto investment offering with two new ETNs on crypto platforms #Avalanche and #Polygon. More information on https://t.co/mO3qOHWBGX and https://t.co/IUf67GSBUV. pic.twitter.com/lkzHgza813

— VanEck Europe (@vaneck_eu) December 16, 2021

The global investment management company VanEck announced the news in a recent post on Twitter so now the VanEck Vector Polygon ETN is fully collateralized and invests in MATIC. The Exchange-traded  Note provides direct exposure to the digital asset and it is 100% backed by Polygon and is stored in cold storage as a regulated crypto custodian with the crypto-insurance while also being tradeable like an ETF on regulated trading venues.

The VanEck vectors Avalanche ETH operates similarly but the company described it as unique for its fast speeds and the light hardware specs. Avalanche and Polygon joined Ethereum, Polkadot, Solana, Bitcoin, and Tron as they were previously added on the platform. Launching crypto exchange-traded products by investment companies became popular in the past few months and the Swiss-based financial services company 21Shares listed Ethereum and Bitcoin ETNs on Nasdaq Stockholm.
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The company looked for approval from the Securities and Exchange Commission to release a Bitcoin Strategy Exchange-Traded Fund and the product was meant to contain the BTC futures and funds as well as other investments related to the biggest digital asset which was not the first time the company submitted BTC ETF applications to the agency. Back in November, the financial regulator rejected the company’s ambitions and explained that VanEck was unable to address previous issues that were designed to prevent fraudulent and manipulative practices but also protect investors and the public interest. The SEC chair Gary Gensler asserted that the futures-backed ETF will be safe for the investors which is why only these funds got the green light so far.