VanEck Launches SUI ETN on Euronext, Offering Investors New Access to Sui Blockchain
VanEck has launched its new SUI ETN, now available on Euronext exchanges in Amsterdam and Paris, providing investors with indirect access to the Sui blockchain without the need to hold its tokens directly.
This development comes as Sui reaches a major achievement, amassing $28 billion in DEX trading volume by mid-November 2024—a figure significantly higher than its competitor Aptos, which currently stands at $9.4 billion. If Sui’s upward price trajectory continues, analysts speculate that the token could rally toward $5, up from its recent 7% gain to $3.18.
Sui, developed by Mysten Labs, stands out as a fast and efficient blockchain, leveraging parallel transaction processing to enable real-time applications such as financial services and gaming. Unlike Bitcoin and Ethereum, which process transactions sequentially, Sui allows simultaneous transactions, making it an appealing option for high-demand applications.
READ MORE: Bitwise Unveils First Aptos Staking ETP for European Investors
VanEck’s CEO of Europe, Martijn Rozemuller, noted that Sui’s approach to transaction finality bridges the gap between traditional Web2 applications and decentralized Web3 platforms. Additionally, the blockchain uses the Move programming language, originally created for Meta’s Diem project, to support its innovative smart contracts.
According to Menno Martens, VanEck Europe’s Crypto Product Manager, the Sui ETN simplifies investing in Sui, allowing investors to access its growth through a regulated exchange-traded product. However, he advises investors to consider the ETN carefully, given the fast-evolving nature of blockchain technology.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
