New VanEck ETN on Xetra: access to the cryptocurrency Ethereum
New VanEck ETN on Xetra: access to the cryptocurrency Ethereum Product with physical collateralisation / central clearing reduces settlement risks
Since Wednesday, another cryptocurrency product issued by VanEck is tradable via Xetra and Börse Frankfurt.
With the VanEck Vectors Ethereum ETN, investors get easy access to the performance of the cryptocurrency Ethereum without having to set up a crypto wallet. The value of Ethereum is determined as a volume-weighted average price from the prices of the trading venues for digital assets and tracked via the MVIS Crypto-Compare Ethereum VWAP Close Index.
The physically backed Ethereum Exchange Traded Note (ETN) was admitted to the Regulated Market of the Frankfurt Stock Exchange and is centrally cleared by Eurex Clearing. Through central clearing, investors benefit from significantly reduced risks in the settlement of transactions.
Name | Asset class | ISIN | Ongoing charges | Reference price |
VanEck Vectors Ethereum ETN | ETN | DE000A3GPSP7 | 1 per cent | MVIS CryptoCompare Ethereum VWAP Close Index |
In June last year, Deutsche Börse became the first exchange worldwide to launch centrally cleared crypto products. Investors can now choose from eight ETNs from three issuers on Bitcoin, Bitcoin Cash and Ethereum. As a result, investors no longer have to turn to unregulated trading venues for cryptocurrency investments. With an average monthly order book volume of around one billion euros, Deutsche Börse’s Xetra market is the European market leader in crypto ETN trading.
The product offering in Deutsche Börse's ETF & ETP segment currently comprises a total of 1,666 ETFs and 204 ETCs and ETNs. With this selection and an average monthly trading volume of around €16.5 billion, Xetra is the leading trading venue for ETFs and ETPs in Europe.