Since Wednesday, two crypto exchange traded notes (ETNs) issued by VanEck ETP AG are tradable on Xetra and via Börse Frankfurt.
The VanEck Smart Contract Leaders ETN offers investors the opportunity to participate in the performance of a basket of digital assets consisting of the largest and most liquid smart contracts assets. Currently, the following five digital assets are included in the underlying index: Ethereum, Cardin, Solana, Polkadot and TRON. The maximum weighting of a security is 30 per cent.
In addition, the VanEck Chainlink ETN also gives investors easy and efficient access to the performance of the cryptocurrency Chainlink.
Both VanEck crypto ETNs are physically collateralised by the respective cryptocurrencies and are centrally cleared in trading by Deutsche Börse Group’s central counterparty, Eurex Clearing AG.
|Name||Asset class||ISIN||Ongoing charges||Crypto currency|
|VanEck Smart Contract Leaders ETN||ETN||DE000A3GXNT4||1.50 per cent||MVIS CryptoCompare Smart Contract Leaders VWAP Close Index|
|VanEck Chainlink ETN||ETN||DE000A3GXNV0||1.50 per cent||Chainlink|
The crypto ETN offering on Xetra now comprises 77 products from ten providers on a total of 20 individual cryptocurrencies and five crypto indices. 20 products can be traded in both euros and US dollars using the same ISIN. The trading currency can be selected in each case through an individually assigned exchange code.
With an average monthly order book turnover of around €1 billion, Deutsche Börse and Xetra are also the market leaders in the trading of crypto ETNs in Europe.