VanEck announces PYTH ETN on Euronext, providing European investors exposure to Solana-backed Pyth Network without direct crypto holdings.
VanEck has expanded its European lineup with the launch of a new PYTH ETN, giving investors access to the Solana-backed Pyth Network without direct cryptocurrency ownership.
The product, listed on Euronext Amsterdam and Euronext Paris, opens investment in PYTH to 15 European countries, including Austria, Switzerland, and Germany.
VanEck Launches Solana-Based PYTH ETN for Broader European Reach
Announced recently, VanEck’s PYTH ETN aims to provide access to the Pyth Network, which supplies real-time financial data to blockchain platforms.
This Exchange-Traded Note (ETN) allows traditional investors to track PYTH’s performance without navigating the complexities of owning digital assets.
VanEck designed the product to cater to the growing demand for blockchain technology in Europe and relies on the Solana-supported Pyth Network’s reliable, first-party data sources.
In partnership with Liechtenstein-regulated Bank Frick, VanEck offers secure cold storage for assets backing the PYTH ETN, enhancing protection against cyber threats.
This launch adds to the firm’s suite of crypto-focused ETNs, which include Bitcoin and Ethereum products that emphasize investor security while connecting to the crypto market.
Dual Focus on Crypto and AI Innovation
Alongside the PYTH ETN, VanEck has also launched a $30 million venture fund, VanEck Ventures, to support early-stage projects in cryptocurrency and AI.
This fund will target advancements in stablecoins, cross-border payments, and blockchain technology, aiming to fuel growth in the digital asset sector.
The announcement coincided with a slight increase in Solana’s price, which reached $168 with a 4% rise in the past 24 hours.
Trading volume also grew by 16.95% to $3.08 billion, reflecting rising market interest in Solana and related assets.
