VanEck Lists Bitcoin ETNs on Deutsche Börse Investment Manager VanEck has announced the launch of its own exchange traded product based on Bitcoin.

VanEck Lists Bitcoin ETN on Deutsche Börse

Investment Manager VanEck Announces Launch of Its Own Exchange Traded Bitcoin Product.

Gabor Gurbach, head of VanEck's digital asset strategy, explained that the product is an exchange-traded note (ETN), not an exchange-traded fund (ETF), which the company previously unsuccessfully tried to get approval in the United States. Bitcoin-ETN VanEck will be listed on the Xetra market of the Deutsche Börse exchange.

ETN is a debt instrument for trading assets that can be difficult to access. VanEck Vectors Bitcoin ETN is 100% Bitcoin backed and offers investors access to the cryptocurrency market with the benefits of other regulated exchange products.

“Our Bitcoin ETN is fully secured. This means that the money invested in ETN is actually used to buy bitcoin. Thus, each ETN represents a certain share in bitcoin, "the company said..

The bitcoins used for ETN collateral will be stored using the cold wallet of the Liechtenstein custodian company Bank Frick.

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