The VanEck Pyth ETN offers European investors access to PYTH token performance with full collateralization and real-time data integration
Key Takeaways
- VanEck has launched an ETN tracking the Pyth Network’s native token on Euronext Amsterdam and Paris.
- The Pyth Network provides high-frequency data and enables smart contracts to interact with off-chain data.
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VanEck launched a new ETN in Europe, tracking the Pyth Network’s native token, PYTH, announced in a press release earlier today.
The ETN, listed on Euronext Amsterdam and Euronext Paris, will be available to investors across 15 European countries, including Germany, France, Norway, and Switzerland.
Providing investors with exposure to the PYTH token, the ETN holds a fully diluted market capitalization of approximately $3.4 billion.
“Smart contracts are becoming increasingly important in finance, and oracle networks are key to enabling real-world applications,” said Martijn Rozemuller, CEO of VanEck Europe.
The Pyth Network operates as a decentralized oracle protocol, enabling smart contracts to interact with off-chain data and communicate with other blockchain networks.
The network specializes in high-frequency data, sourcing directly from exchanges, trading firms, and financial institutions.
The VanEck Pyth ETN tracks the MarketVector Pyth Network VWAP Close Index and is fully collateralized with physical PYTH tokens, held in custody by Liechtenstein-based Bank Frick, with a total expense ratio of 1.5%.
VanEck has established a significant presence in the European crypto ETN market with more than a dozen products covering various digital assets, including Solana and Chainlink.
The asset manager has also launched two spot crypto exchange-traded funds in the US: VanEck Bitcoin ETF (HODL) and VanEck Ethereum ETF (ETHV).
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