VanEck launches SUI ETN worth $42 billion in Europe

VanEck Europe has introduced a new SUI-based (CRYPTO:SUI) exchange-traded note (ETN), expanding its portfolio across 15 European countries.

This latest addition reflects VanEck’s focus on broadening its range of blockchain products in the region.

According to VanEck’s press release, the SUI ETN offers investors a chance to engage with the blockchain’s development, which boasts low transaction costs and strong growth potential.

“The VanEck Sui ETN gives investors the opportunity to participate in the development of this promising blockchain network in a… comparatively simple way,” said Menno Martens, Crypto Product Manager at VanEck Europe.

Martens highlighted Sui’s scalability and user-friendly design as key strengths.

VanEck Europe CEO Martijn Rozemuller also praised Sui’s rapid transaction speeds, referring to it as a bridge between Web2 and Web3 technologies.

The announcement coincides with a significant rise in SUI’s price, which peaked on November 12, just one day before VanEck’s ETN launch.

The price surge drew attention, though analysts later noted bearish indicators that could suggest potential declines.

Despite this, the launch of HIPPO, the first SUI meme coin, sustained market interest and drove further attention to the blockchain.

VanEck has been active in expanding its ETN offerings in Europe.

Recently, it introduced a PYTH-based ETN available in the same 15 countries and added staking rewards to its Solana ETN in October.

While VanEck’s broader ETN strategy remains unspecified, the series of recent launches points to a strategic focus on blockchain-related investments.

Investors have shown interest in VanEck’s expanding ETN products, which come during a bullish phase in the crypto market.

The ongoing growth in blockchain adoption is reflected in these offerings, positioning VanEck as an active participant in the evolving landscape.

At the time of reporting, the Sui (SUI) price was $3.49.