Crypto Wealth Manager Vaneck launches Polygon and Avalanche investment offers – bitcoin news

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Wealth manager Vaneck has announced that it has expanded its exchange-traded note (ETN) offerings to support the token polygon and the avalanche. The two ETNs follow on from five funds previously launched in Europe that give investors exposure to major digital assets.

Vaneck Adds Polygon and Avalanche to Cryptocurrency ETN List

Vaneck announced the launch of two ETNs that exploit the Crypto Asset Polygon (MATIC) and Avalanche (AVAX). ETNs represent shares of AVAX or MATIC and the funds are fully guaranteed. “Vaneck expands its crypto investment offering with two new ETNs on the Avalanche and Polygon crypto platforms,” the wealth manager tweeted on December 16.

Avalanches and polygons have seen significant demand this year and have seen massive gains since the start of the year. The token avalanche (AVAX) saw its market capitalization join the top ten digital assets in the world, in terms of overall valuation. Today, AVAX is in 9th place after having climbed 3,509% since the same period last year.

Polygon (MATIC) has also grown significantly in value in 2021 with cumulative gains of around 11.393%. MATIC is today the 14th largest crypto asset by market capitalization, around $ 15 billion. MATIC and AVAX are both compatible with Ethereum but are also considered to be competitors of Ethereum.

Vaneck to Leverage MVIS Data from Crypto Compare, Bank Frick to Keep Crypto Assets

ETNs offered by Vaneck are like exchange-traded funds (ETFs), but ETNs are considered unsecured debt securities. Vaneck had tried to get his Bitcoin spot market (BTC) ETF approved by the United States Securities and Exchange Commission this year, but the ETF was denied in mid-November.

The Polygon and Avalanche ETNs use Crypto Compare’s MVIS data to replicate the value and return performance of each asset. The underlying crypto assets of Vaneck’s ETNs are held by Bank Frick & Co. AG. The AVAX ETN ticker will be “VAVA” and the MATIC ETN ticker will be “VPOL”.

Keywords in this story Avalanche, Avalanche (AVAX), AVAX, Bank Frick, Bitcoin (BTC), crypto assets, digital currencies, etn, exchange traded notes, matic, Polygon, Polygon (MATIC), vaneck, Vaneck ETN, VAVA , VPOL, asset manager

What do you think of Vaneck’s introduction of polygon and avalanche ETNs? Let us know what you think of this topic in the comments section below.

Jamie redman

Jamie Redman is Head of News at Bitcoin.com News and a FinTech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code, and decentralized applications. As of September 2015, Redman has written over 4,900 articles for Bitcoin.com News on the disruptive protocols emerging today.

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