Investment firm VanEck, managing over $100 billion in assets, has launched a new ETN based on the SUI cryptocurrency in Amsterdam and Paris.
What is the SUI ETN?
The VanEck SUI ETN is fully backed by SUI tokens held with Bank Frick in Liechtenstein. This product enables investors to track the market value of SUI tokens without direct interaction with the blockchain.
Sui’s Rapid Growth
Sui, a decentralized smart contract platform, has shown rapid growth by increasing its total value locked by 400% and DeFi volume by 692% over the past year. Sui offers fast and scalable transaction processing, ideal for finance and gaming applications.
VanEck Expands Crypto Product Offerings
Adding SUI to VanEck's portfolio highlights its confidence in blockchain's future. The company previously launched products linked to Bitcoin, Ethereum, and Solana, and continues to expand its crypto offerings.
The launch of the SUI ETN shows VanEck's growing confidence in Sui blockchain prospects, supported by increased partnerships and stablecoin integrations.
