VanEck executives announced the launch of an ETN based on the SUI cryptocurrency
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Johny Smith
2024/12/04
3 mins read
VanEck today launched its new exchange-traded product VanEck Sui ETN on the Euronext exchanges in Amsterdam and Paris. Investors can now participate in the rise in the price of the SUI token without purchasing it directly. This makes the Sui marketplace more accessible and easier for users looking to innovate in decentralized finance.
Sui is a smart contract platform with high transaction speeds, ideal for areas such as finance and gaming. Unlike older blockchains, where transactions are performed sequentially, Sui processes them in parallel, reducing costs and eliminating delays.
According to VanEck Europe CEO Martin Rosemüller, Sui is designed to act as a bridge between the Web2 sector and the decentralized Web3, which makes it attractive for ease of use. The Mysten Labs team that developed Sui includes former engineers from Microsoft, Apple and Meta. They use a unique programming language called Move, originally developed for the Diem project.
VanEck cryptocurrency product manager Menno Martens sees huge potential in Sui. He notes that scalability and low costs make the platform a competitive alternative to older blockchains. The new exchange note allows investors to monitor the growth of cryptocurrency quotes through regulated exchange mechanisms.
Investors should be aware that the price of SUI can fluctuate widely. Digital assets are subject to risks due to the youth of the technology and uncertain international regulations. In addition, the VanEck Sui ETN provides complete protection for assets held in secure cold storage at Bank Frick in Liechtenstein. The new product has an overall expense ratio of 1.5%. Investors must be prepared to take risks.
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