Justin Sun, the founder of the cryptocurrency platform TRON, has confirmed that VanEck TRON ETN (VTRX) has officially cleared approval to list on the Deutsche Börse with a September 21 trading debut on Xetra.
According to Sun, VTRX is expected to be available in 14 EU countries, paving the way for access to other major European markets.
(1/4)📢BIG NEWS everybody was waiting for!
⚒️VanEck $TRX ETN (#VTRX) is officially listed on the world top stock exchange @DeutscheBoerse, representing $TRX as the 3rd mainstream crypto #ETN following #BTC and #ETH issued by @vaneck_us, a world-renowned fund management company pic.twitter.com/yktg10WAis
— Justin Sun 🅣🌞 (@justinsuntron) September 20, 2021
“It is also a significant milestone in TRON’s effort to keep up with the evolving regulatory environment.”
VanEck, one of the leading global fund management companies with total assets under management exceeding $80 billion, and operations in major international markets such as China, Australia and Europe, was among the first asset managers to submit a Bitcoin ETF application to the SEC.
Gabor Gurbacs, Director of Digital Asset Strategy at VanEck said the company was “excited to launch an ETP on TRX on the heels of its growing network usage and user adoption”.
“ETPs provide high-quality market access, transparency, and robust regulatory frameworks to access digital assets, such as TRX,” he said.
VanEck Europe says TRON offers many advantages
Martijn Rozemuller, CEO at VanEck Europe added that Ethereum continued to grow in popularity, “but younger platforms such as TRON also offer many advantages, such as lower transaction costs or faster processes, and by adding them to their portfolio, an investor increases the diversification, which lowers the overall risk”.
“As the world’s fastest-growing layer-1 protocol with more than 54 million global users and cumulative transactions exceeding 2.4 billion, we will strive to promote sustainable growth for the nascent industry with its defining role to reshape the future for Web 3.0,” he concluded.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.