VanEck Launches New ETN Tracking Pyth Network Token on European Exchanges

VanEck has just introduced an exchange-traded note (ETN) in Europe that follows the Pyth Network’s native token, PYTH, as announced on November 5.

This new VanEck Pyth ETN is available on both Euronext Amsterdam and Euronext Paris and can be accessed by investors in 15 European nations, such as Germany, France, Norway, and Switzerland.

Martijn Rozemuller, CEO of VanEck Europe, emphasized the importance of oracle networks like Pyth for enabling smart contract functionality in real-world applications. Rozemuller sees Pyth as potentially integral to the infrastructure of decentralized finance (DeFi).

The VanEck Pyth ETN aligns with the MarketVector Pyth Network VWAP Close Index, and is fully backed by physical PYTH tokens, securely held by Liechtenstein-based custodian Bank Frick.

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With over a dozen crypto exchange-traded products across Europe, VanEck offers products that cover assets like Solana and Chainlink. In the U.S., it has launched spot crypto ETFs for Bitcoin and Ethereum.

Meanwhile, the upcoming U.S. presidential election may impact the fate of several pending crypto ETF applications, including those seeking to list ETFs holding altcoins such as Solana, XRP, and Litecoin.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.