VanEck Expands Solana ETN with Staking for European Investors

Asset manager VanEck has announced that its Solana exchange-traded note (ETN) available to investors in Europe now includes staking capabilities. The Solana ETN, known as VSOL, currently holds $73 million in assets under management and aims to reflect the price of Solana (SOL). This digital exchange-traded product is incorporated in Liechtenstein and offers 100% collateralization with SOL tokens.

Staking Benefits for VSOL Holders

Staking for VanEck’s Solana ETN will be available to all holders, allowing them to benefit from additional rewards. The ETN replicates both the price and yield of the volume-weighted average price of SOL. This means investors can earn staking rewards while holding the ETN.

Daily Accrual of Staking Rewards

Staking rewards will accrue daily and will be reinvested, contributing to the product’s end-of-day net asset value. VanEck ensures that customer funds are protected by using custodians for physical SOL tokens, rather than staking customer funds through its own infrastructure. According to Mathew Sigel, head of digital asset research at VanEck, custodians delegate the SOL to validator nodes, with tokens held in cold storage. VanEck manages the staking exposure to ensure daily liquidity for investors.

Strategic Expansion into Digital Assets

The inclusion of staking in VanEck’s Solana ETN comes shortly after the company launched VanEck Ventures, a $30 million fund focused on early-stage startups in fintech, digital assets, and artificial intelligence. This strategic move highlights VanEck’s commitment to expanding its footprint in the rapidly evolving digital asset space.

“VanEck’s expansion into staking demonstrates our dedication to providing innovative investment solutions in the digital asset market.” – Mathew Sigel, Head of Digital Asset Research

The new fund has already attracted four undisclosed investments, indicating strong interest and potential in the burgeoning digital asset and fintech sectors.

Key Takeaways for Investors

  • VanEck’s Solana ETN now includes staking, offering additional rewards for investors.
  • Staking rewards accrue daily and are reinvested, enhancing the ETN’s net asset value.
  • Custodians manage the physical SOL tokens, ensuring security and regulatory compliance.
  • VanEck Ventures has launched a $30 million fund for early-stage fintech, digital assets, and AI startups.

VanEck’s innovative approach and strategic investments position the company as a key player in the digital asset market. Investors can now benefit from the enhanced features of the Solana ETN and explore new opportunities in the evolving financial landscape.

#DigitalAssets #CryptoSecurity #BearMarket

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