VanEck, a prominent asset manager, has recently launched the VanEck Pyth Exchange Traded Note (ETN) to make it easier for people to invest in the cryptocurrency world. The new investment product simplifies access to the Pyth Network on Solana Blockchain Technology and is now listed on major stock exchanges in Amsterdam and Paris.
The Pyth Network is an oracle built on Solana that connects real-world data with blockchain smart contracts. This collaboration enables fast, secure data feeds, and low latency transactions, benefiting decentralized finance (DeFi) and insurance. The VanEck Pyth ETN tracks the value of the PYTH token on Solana and is a secure investment as it uses a trusted custodian, Bank Frick in Liechtenstein, for safekeeping.
With this new opportunity, people in Germany, France, and Switzerland can easily buy and sell ETN, just like regular stock, leveraging Solana’s high transaction capacity, Pyth Network’s real-time data feeds, and VanEck’s trusted investment expertise. This new investment product makes investing in cryptocurrency more accessible and familiar to traditional investors.