On November 5, VanEck announced the listing of an exchange-traded note (ETN) in Europe that tracks the performance of the Pyth Network’s governance token, PYTH. This ETN will be available for trading on Euronext Amsterdam and Euronext Paris, and it will be accessible to investors in 15 European countries, including Germany, France, Norway, and Switzerland. The Pyth Network operates as a decentralized oracle protocol, connecting smart contracts to off-chain data for enhanced functionality across blockchain networks. The VanEck Pyth ETN will be collateralized with physical PYTH tokens, which are securely held by Bank Frick in Liechtenstein. Martijn Rozemuller, CEO of VanEck Europe, emphasized the growing importance of smart contracts and the integral role oracle networks play in their real-world applications. VanEck’s expansion into cryptocurrency investment products marks a significant move in the evolving landscape of digital assets, which has seen increased interest from asset managers, particularly in light of upcoming regulatory decisions regarding crypto ETFs.

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