VanEck’s TRON ETN goes live on Deutsche Börse

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.

“The successful listing of VTRX, on the heels of Bitcoin and Ethereum, is a fresh testimony to TRON’s robust crypto ecosystem and its successful drive to expand its global roadmap,” Sun said.

“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.

It has since launched one of the world’s first Bitcoin ETNs – VBTC – in 2020, followed by an Ethereum ETN (VETH) in 2021.

“The listing of VTRX following Bitcoin and Ethereum further demonstrates that TRON is gaining market recognition as a leading blockchain platform globally,” Sun noted.

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”.

Sun said his vision was that all open blockchains should be an integral part of a common global community, be it TRON, Bitcoin, Ethereum, or BSC.

“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.