The VanEck Pyth ETN has been launched by VanEck and is now available on Euronext Amsterdam and Paris. This allows European investors to gain exposure to the PYTH token without directly acquiring it.
The product is accessible in several countries, including France, Germany, and Switzerland, and offers an opportunity for investors to earn staking rewards through the SOL token.
The Pyth network is important in decentralized finance (DeFi) as it provides real-world data to smart contracts through partnerships with financial institutions. To ensure the security of the underlying assets, VanEck has partnered with Bank Frick in Liechtenstein, which offers cold storage solutions.
The VanEck Pyth ETN has an expense ratio of 1.5% and provides a regulated and secure investment structure for traditional investors interested in digital assets and blockchain applications.