Asset management leader, VanEck, is propelling its expansion strategy in Europe by introducing a new exchange-traded product (ETP) that tracks TIA, the native token of Celestia’s modular blockchain data availability layer.
“The surging demand for TIA is directly tied to the increasing need for Celestia’s services. All transactions on Celestia are denominated and settled in TIA,” stated Menno Martens, the crypto product manager at VanEck Europe. “With developers increasingly employing Celestia’s services to create high-throughput, full-stack applications, we anticipate significant growth for Celestia.”
The VanEck Celestia ETN, an exchange-traded note (ETN), is listed on Euronext Amsterdam and Euronext Paris, two of the world’s most historic stock exchanges. Celestia, developed using Cosmos’ Tendermint technology, aims to enhance blockchain scalability by separating consensus and data availability functionalities from transaction execution. Validators utilize the TIA token to secure the network and establish the sequence of transactions, which are then processed by other chains.
An ETN is a specific type of ETP that gives investors exposure without the necessity to own the underlying asset. Unlike asset-backed funds, ETNs are unsecured debt obligations.
VanEck has been increasingly active in the blockchain arena. The firm provides various ETNs, mainly in Europe, tracking tokens for Avalanche, Bitcoin, Ethereum, Polkadot, Solana, and TRON. They were also among the pioneers to launch a spot Bitcoin exchange-traded fund. Recently, the firm submitted the first ETF prospectus for a BNB fund listing in the U.S. and was the first to file with the U.S. Securities and Exchange Commission for a Solana ETF.
VanEck is a global investment management firm established in New York City in 1955. The firm aims to provide investors with access to specialized, often underrepresented asset classes, markets, and strategies predominantly through single-asset or thematic ETPs and private funds.
Disclaimer: This article is meant for informational purposes only and does not constitute as legal, tax, investment, financial, or any other form of advice.
