Europe’s Largest Stock Exchange to List TRON Exchange-Traded Notes

Global fund manager VanEck has also launched Solana and Polkadot ETNs on Deutsche Börse Xetra.

Sep 20, 2021 at 1:14 p.m. UTC
Updated Sep 20, 2021 at 3:32 p.m. UTC

Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.

TRON, the cryptocurrency created by Chinese entrepreneur Justin Sun, has made its way onto Deutsche Börse, Europe’s largest stock exchange, in the form of a VanEck-issued exchange-traded note (ETN), the companies announced Monday.

As well as a TRON ETN (VTRX), global fund manager VanEck also launched SOL and DOT ETNs. The products are being listed on Deutsche Börse Xetra on Monday, with trading to commence on Tuesday, according to VanEck Director of Digital Asset Strategy Gabor Gurbacs.

“We are excited to launch a Tron, Solana and Polkadot [exchange-traded product] on the heels of growing network usage and adoption. ETPs provide high-quality market access, transparency and robust regulatory frameworks to access digital assets,” said Gurbacs in an emailed statement.

The listing of VTRX lends some credibility to TRON, a blockchain that uses a consensus system called delegated proof-of-stake, and which in the past has been branded a more or less centralized system, masquerading as decentralized.

Following German approval, VTRX is expected to be available in European Union countries, paving the way for access to additional markets such as London, Paris and Amsterdam Euronext to further broaden the investor base across European markets, according to a press release.

ETPs that track the performance of cryptocurrencies have become a popular way for institutions to gain exposure to the digital asset economy in a familiar setting.

Deutsche Börse’s Xetra trading venue became the first exchange worldwide to launch trading in centrally cleared crypto products back in June 2020, while VanEck was among the first asset managers to submit a bitcoin ETF application to the U.S. Securities and Exchange Commission.

The three new ETNs allow investors to participate in the development of digital assets on an exchange-traded basis at a total expense ratio of 1.5% without having to buy them themselves, VanEck said in a statement.

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Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.

Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.

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