VanEck has introduced a new exchange-traded note (ETN) that is based on the PYTH token. This ETN is now available on the Euronext Amsterdam and Paris exchanges. It allows investors to gain exposure to crypto assets without needing to directly hold PYTH tokens.

The ETN is fully collateralized and the assets are securely stored in cold storage by Bank Frick in Liechtenstein. It has an expense ratio of 1.5%. The PYTH Network functions as a decentralized oracle protocol, enabling smart contracts to access real-world data. This enhances data communication across blockchains and plays a significant role in the decentralized finance (DeFi) sector.

The price of the PYTH token has experienced an 11% decline over the past week, but it has recently rebounded with a 3.85% increase in the last 24 hours. Currently, the token is trading at $0.3372. VanEck's ETN aims to offer a secure investment environment while taking advantage of the growing interest in crypto assets. It operates within regulated markets. Investors should be aware of the inherent volatility in crypto markets when considering this new investment vehicle.