VanEck introduces SUI ETN to European investors as token hits all-time high

VanEck, a global asset management firm and US spot Bitcoin ETF issuer has launched a new exchange-traded note (ETN) tied to the SUI token from the Sui blockchain network, according to a Nov. 13 statement.

The ETN, now available on Euronext Amsterdam and Euronext Paris, allows European investors in over 15 countries to gain exposure to SUI without directly holding the asset.

The product tracks the MarketVector Sui Network VWAP Close Index and is fully backed by SUI tokens held with Liechtenstein’s Bank Frick. It has a total expense ratio of 1.5%.

VanEck’s SUI ETN comes as the digital asset has experienced increasing massive adoption that has pushed its value to a new all-time high of $3.31, according to CryptoSlate’s data.

Why SUI?

VanEck explained that it selected Sui for its ETN due to the blockchain’s high performance and user-friendly design.

Sui, a decentralized smart contract platform, aims to process transactions quickly and efficiently. Unlike older blockchains like Bitcoin and Ethereum, which process transactions sequentially and often incur delays and high costs, Sui can handle multiple transactions simultaneously. This capability makes Sui ideal for applications requiring real-time transactions, such as financial services and gaming.

In an earlier November report, VanEck stated that Sui provides a familiar user experience to most internet users because it is “fast, user-friendly, and affordable as platforms like Facebook, Twitter, and Robinhood.”

Menno Martens, Crypto Product Manager at VanEck Europe, emphasized Sui’s scalability and cost-effectiveness. He added:

“In our view, this network has strong growth potential, because its consistently low transaction costs make it a real alternative to older blockchains. The VanEck Sui ETN gives investors the opportunity to participate in the development of this promising blockchain network in an exchange-traded and comparatively simple way.”

Meanwhile, the Sui ETN expands VanEck’s crypto product portfolio, which already includes Bitcoin, Ethereum, Polkadot, and Solana offerings. These products are designed to provide straightforward access to the fast-evolving crypto market.

The post VanEck introduces SUI ETN to European investors as token hits all-time high appeared first on CryptoSlate.

  • Related Posts

    Deep liquidity cushioned Bitcoin’s price during March volatility

    March has so far been an extremely volatile month for Bitcoin, with the past 13 days recording sharp price swings ranging between $95,000 and $78,000. However, despite these fluctuations, liquidity…

    Continue reading
    Bolivia turns to crypto for fuel trade amid US dollar shortage

    Bolivia has authorized its state-run energy company, YPFB, to use crypto for fuel imports as the country struggles with a worsening dollar shortage and fuel crisis. The government approved the…

    Continue reading

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Deep liquidity cushioned Bitcoin’s price during March volatility

    Deep liquidity cushioned Bitcoin’s price during March volatility

    Bolivia turns to crypto for fuel trade amid US dollar shortage

    Bolivia turns to crypto for fuel trade amid US dollar shortage

    Bitcoin outlook strengthens as USDT market cap expands and indicators enter oversold zone

    Bitcoin outlook strengthens as USDT market cap expands and indicators enter oversold zone

    Ethereum devs launch new testnet to finish Pectra upgrade amid struggles

    Ethereum devs launch new testnet to finish Pectra upgrade amid struggles

    SEC reportedly weighing XRP’s commodity status amid Ripple settlement negotiations

    SEC reportedly weighing XRP’s commodity status amid Ripple settlement negotiations

    Senate Banking Committee passes GENIUS Act with bipartisan support, advancing stablecoin regulation

    Senate Banking Committee passes GENIUS Act with bipartisan support, advancing stablecoin regulation