- VanEck Europe has launched a new SUI-based exchange-traded note (ETN) available across 15 European countries.
- The ETN is fully backed by SUI tokens held with Bank Frick in Liechtenstein and has an expense ratio of 1.5%.
VanEck has unveiled its latest exchange-traded note (ETN) focused on the Sui blockchain, now listed on Euronext Amsterdam and Paris. This ETN gives investors a way to gain exposure to Sui’s blockchain without having to own SUI tokens directly. VanEck’s SUI ETN is linked to the MarketVector Sui VWAP Close Index, which measures the market capitalization of SUI and is fully supported by collateral held by Bank Frick in cold storage.
VanEck to Simplify Crypto Investments
According to Martijn Rozemuller, CEO of VanEck Europe, one of the main benefits of Sui is its focus on achieving quick transaction settlement, which allows for seamless integration of Web2 and Web3 applications. With Move, a programming language that was initially designed for Meta’s Diem project, Sui is a unique player in the blockchain space as a smart contract platform. This new ETN will allow investors to gain exposure to blockchain technology in a regulated market with a TER of 1.5%.
In the recent press release made by VanEck, the SUI-based ETN allows investors to easily invest in Sui’s blockchain technology. This new ETN is designed for both EU and non-EU countries within Europe to increase access to Blockchain investments through regulated exchanges. This ETN will join other VanEck products related to cryptocurrencies such as Bitcoin, Ethereum, Polkadot, and Solana.
While this is an ETN, not an ETF, ETNs are generally riskier than ETFs and operate with looser regulatory oversight, making them an attractive option for investors looking to earn more. VanEck’s choice to introduce SUI-based ETNs at this time seems to be in response to the increasing need for simplified crypto investments, especially in Europe. In the early November report, VanEck pointed out that Sui is easy to use and inexpensive, arguing that it is as easy as Facebook and Twitter.
Sui Reaches New DEX Volume Milestones
The SUI token is on a growth trend, with increased value in the market, as well as higher trading volumes on the DEX. Sui’s DEX volume now stands at $443.38 as of the time of this writing.
In line with its DEX trading volume, Sui’s price has risen by 53% in the past month and is currently priced at $3.44. On the 14th of November, the SUI price ranged from $2.97 to $3.31, almost close to its record high of $3.51.
According to the analysts, if Sui continues the bullish trend in the near future, the cryptocurrency may rise to $5, which will be a 50% surge from the current price. This upward trend is backed by technical analysis as the Relative Strength Index (RSI) recently rose to 77.05 meaning that the market is overbought.
Similarly, Sui’s network fundamentals also indicate its improving market position. The blockchain currently has a Total Value Locked (TVL) of $1.414 billion. Also, Sui’s stablecoin market capitalization is $380.22 million, showing the increasing importance of the project in the financial sector. According to coinmarket cap, Sui had a trading volume of $3.20 million in the past 24 hours.
