Deutsche Boerse Expand Crypto Offering to Include Polkadot (DOT), Solana (SOL), and Tron (TRX) ETNs

Asset manager VanEck has listed three new crypto ETNs on Xetra Deutsche Börse to include the digital assets Solana (SOL), Polkadot (DOT), and Tron (TRX). [coin_stats_table symbol="SOL"][coin_stats_table symbol="DOT"][coin_stats_table symbol="TRX"] These crypto-assets were selected from about 100 possible candidates on the basis of uses and functionality, the number of transactions, availability on the exchanges, track record, development team, and market capitalization, according to the official announcement. “Solana has grown remarkably and became an institutionally investable asset,” said Ramnik Arora, Head of Product at FTX, a crypto derivatives platform that backs the faster and cheaper Ethereum competitor. Meanwhile, Tron creator Justin Sun saw this listing as “a testament to TRON’s robust crypto ecosystem and its successful drive to expand our global roadmap.” Investors will now be able to participate in the development of these cryptocurrencies on an exchange-traded basis at a total expense ratio of 1.5% without having to buy the underlying asset themselves. With these new listings, crypto ETNs will expand beyond just the top two digital assets, Bitcoin (BTC) and Ethereum (ETH), for European investors. [coin_stats_table symbol="BTC"][coin_stats_table symbol="ETH"] “Ethereum continues to grow in popularity, but younger platforms also offer many advantages, such as lower transaction costs or faster processes,” says Martijn Rozemuller, CEO at VanEck Europe. According to Rozemuller, both Bitcoin and Ether are “strongly established in the market,” and their low correlation to other asset classes makes them a good opportunity to diversify one's portfolio. However, with thousands of cryptocurrencies available in the market and no one knowing which will be the most important in the next decade, “Investors should therefore be given the opportunity to invest broadly in digital assets as well,” he said.