Euronext to list VanEck’s physically backed Bitcoin and Ethereum ETNs

VanEck, the asset manager, announced that Euronext will list physically backed exchange-traded notes (ETNs) on Bitcoin and Ethereum.

VanEck is the first provider to list its #crypto ETPs on the @euronext stock exchanges in Amsterdam and Paris. They will enable investors to get exposure to #Bitcoin and #Ethereum without having to buy them themselves. Learn more in our press room: https://t.co/NEiLLIsQg3 pic.twitter.com/Rhsfyvs5sh

— VanEck Europe (@vaneck_eu) May 28, 2021

Trading of the instruments on the Paris and Amsterdam exchanges will commence on June 1.

The custodian will be Frick, a Liechtenstein-regulated bank.

Total Expense Ratio will be 1%.

An ETN resembles an ETF, except that the note’s issuer is not obliged to buy or hold assets to track its price. In VanEck’s ETN, it is 100% backed by real cryptocurrency.

According to CoinDesk, Euronext has also approved from June 1 the listing of three crypto ETPs from 21Shares on Bitcoin, Ethereum and a ‘short on Bitcoin’.

Earlier, VanEck received listing a Bitcoin ETN on Deutsche Börse’s Xetra, the German exchange.

As previously reported, SEC extended to June 17, 2021 the deadline for VanEck’s application to launch a Bitcoin ETF.

In May, VanEck submitted a request to the Commission for approval of an Ethereum-based exchange-traded fund.

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