VanEck has launched a new exchange-traded note (ETN) based on the PYTH token, available on Euronext Amsterdam and Paris, allowing investors to access crypto assets without directly holding PYTH tokens. The fully collateralized ETN, with assets stored in cold storage by Bank Frick, features a 1.5% expense ratio and aims to enhance the Pyth Network's role in the DeFi sector. Despite a recent 11% price drop, the PYTH token has seen a 3.85% increase in the last 24 hours, currently trading at $0.3372.