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Deutsche Boerse Unveils Polkadot And Solana ETNs by VanEck

source-logo  cryptovibes.com 22 September 2021 17:15, UTC

Deutsche Boerse, the German stock market operator, is still diving into the crypto derivatives by listing three new cryptocurrency exchange-traded notes (ETNs) by VanEck. Three new cryptocurrency ETNs are now live on the stock market, following ETN listings on ETH, BTC, LTC, and BCH.

On September 21, 2021, Deutsche Boerse officially announced that VanEck’s new ETNs Solana (SOL), Polkadot (DOT), and Tron (TRX) can now be traded on its digital stock exchange Xetra and the Frankfurt Stock Exchange.

The new listings expanded Deutsche Boerse’s cryptocurrency ETN offerings as the firm previously began offering similar products on cryptos like Bitcoin Cash, Bitcoin, Litecoin, and Ether, the firm said. The announcement reads:

“All crypto ETNs tradable on Xetra are physically collateralized and listed on the Regulated Market of the Frankfurt Stock Exchange.”

Based on a statement by Deutsche Boerse, investors can acquire crypto ETNs similar to shares or exchange-traded funds (ETFs) without having to set up crypto wallets. The company added:

“Through central clearing, institutional investors also benefit from significantly reduced risks in settlement of transactions.”

VanEck said in its announcement that the new products come after previous launches of exchange-traded products on Ether and Bitcoin. The firm wrote:

“Further ETNs are now following in order to open up the future market of cryptocurrencies for European investors. With this step, the accomplished ETF provider further expands its pioneering role for innovative and future-oriented investment solutions.”

This news comes amid Deutsche Boerse notably expanding the range of supported crypto derivatives products across all its operated exchanges. On September 13, Eurex, Deutsche Boerse’s derivatives exchange, unleashed crypto derivatives trading services with ETC Group’s Bitcoin (BTC) ETN futures product. Earlier in 2021, Xetra introduced trading of Ether-based ETPs by the ETC Group.

cryptovibes.com