With a 70-year legacy of offering investment solutions across diverse industries and asset classes, privately-held VanEck now provides millions of customers access to SUI.
Investment firm VanEck has introduced a product representing SUI.
VanEck known for its financial products that provide access to Bitcoin, Ethereum and Solana now offers exposure to SUI, the token behind the groundbreaking layer-one blockchain recognized for its industry-leading performance and infinite horizontal scalability.
This fully-collateralized financial instrument provides millions of investors access to SUI.
With the new offering from VanEck, millions can now access SUI without needing to hold SUI in a crypto wallet.
VanEck holds the referenced SUI tokens in a regulated custodian environment covered by each note, ensuring that the product’s value tracks the underlying tokens’ value.
Like other financial products, the new VanEck offering enables users to easily invest and divest.
The launch of VanEck’s SUI-backed product is the latest demonstration of institutional confidence in Sui, following notable on-chain developments.
These include partnerships with services like Copper, Zero Hash and Fordefi and the integration of stablecoins such as USDC, AUSD and the stablecoin-like USDY.
Over the past year, Sui has experienced remarkable growth, with TVL (total value locked) increasing by 430% and DeFi volume surging by 692%.
In August, 2024, in another show of support, Grayscale one of the world’s largest crypto asset managers launched its Grayscale® Sui Trust.
Menno Martens, crypto specialist and product manager at VanEck, said,
“We are excited to introduce this product as part of our growing portfolio of digital asset investment products.
“Sui’s proven track record and reputation as an industry leader as well as its innovative and technological advancements made this the next logical product to house in the portfolio.
“We believe this development will give investors a unique opportunity to access one of the most advanced blockchain networks available today.”
Gap Kim, head of marketing at the Sui Foundation, said,
“The creation of this SUI-based product by VanEck is a pivotal moment for the Sui ecosystem and a significant vote of confidence in Sui’s technology and long-term vision.
“VanEck is a trusted leader in the investment industry, and the decision to offer SUI as…
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