While the Securities and Exchange Commission (SEC) deliberates the potential approval of VanEck’s bitcoin and ether exchange-traded funds (ETFs), the company is moving forward with two exchange-traded products (ETPs) abroad.
On June 1, VanEck will list its Vectors Bitcoin exchange-traded note (ETN) and Vectors Ethereum ETN on the Dutch and French portions of Euronext, the company said in a release.
“Bitcoin and Ethereum have firmly established themselves on the market as the two largest cryptocurrencies," said Martijn Rozemuller, CEO at VanEck Europe, in a press statement. “Due to their low correlations to other asset classes, they provide an interesting opportunity to diversify one’s investment portfolio.”
The product expansion comes months after the launch of an exchange-traded note (ETN) on Germany’s Deutsche Boerse Xetra back in November.
The company has been attempting to become the first U.S. firm to go live with an SEC-approved bitcoin ETF since 2019. In April, the SEC punted a decision on its current bitcoin ETF effort until later this year.