VanEck Launches ETNs for Terra (dollarLUNA), FTX Token (dollarFTT), and Algorand (dollarALGO)
Categories: Crypto News US
On Wednesday (April 6), VanEck Europe launched three new exchange-traded notes (ETNs) for the following highly popular cryptoassets: Terra ($LUNA), FTX Token ($FTT), and Algorand ($ALGO). VanEck Terra ETN (VLNA) The VanEck Terra ETN is “a fully-collateralized exchange traded note that invests in LUNA.” It “seeks to replicate the value and yield performance of the MVIS® CryptoCompare Terra VWAP Close Index.”This ETN offers “direct exposure to the tokens underpinning the smart contract Terra platform”, is “100% backed by LUNA and stored in cold storage at a regulated crypto custodian with crypto insurance (up to a limited amount)”, and is “tradeable like an ETF on regulated exchanges.” Product details:
VanEck FTX Token ETN (VFTX)
The VanEck FTX Token ETN is a fully-collateralized exchange traded note that invests in FTT. It “seeks to replicate the value and yield performance of the MVIS® CryptoCompare FTX Token VWAP Close.”This ETN offers “direct exposure to the tokens underpinning the FTX Exchange”, is “100% backed by FTT and stored in cold storage at a regulated crypto custodian with crypto insurance (up to a limited amount)”, and is “tradeable like an ETF on regulated exchanges.”
Product details:
- Product Ticker: VFTX
- Custodian: Bank Frick & Co. AG
- Index Ticker: MVFTTV
- Index Provider: MV Index Solutions GmbH
- Inception Date: 24 Mar 2022
- Base Currency: USD
- Total Expense Ratio: 1.5%
VanEck Algorand ETN (VGND)
The VanEck Algorand ETN is “a fully-collateralized exchange traded note that invests in ALGO.” It “seeks to replicate the value and yield performance of the MVIS® CryptoCompare Algorand VWAP Close Index.”This ETN offers “direct exposure to the tokens underpinning the smart contract Algorand platform”, is “100% backed by ALGO and stored in cold storage at a regulated crypto custodian with crypto insurance (up to a limited amount)”, and is “tradeable like an ETF on regulated exchanges.”
Product details:
- Product Ticker: VGND
- Custodian: Bank Frick & Co. AG
- Index Ticker: MVALGOV
- Index Provider: MV Index Solutions GmbH
- Inception Date: 24 Mar 2022
- Base Currency: USD
- Total Expense Ratio: 1.5%