Open blockchain platform TRON (TRX) will join mutual fund VanEck as part of an upcoming listing on the Deutsche Börse German stock exchange.
The new product is an exchange-traded note (ETN) called VanEck Vectors TRON ETN (VTRX). It will debut on Europe’s largest stock venue tomorrow, with further expansion to Zurich, Paris, and Amsterdam expected.
The TRON (TRX) protocol was founded in 2017 by Chinese-American tech entrepreneur Justin Sun, and aims to allow content creators to sell directly to their consumers.
Martijn Rozemuller, CEO at VanEck Europe, explains the firm’s motivation for establishing the TRON partnership.
“Ethereum continues 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.”
With the new TRON listing, VanEck will have three different crypto ETNs on the Deutsche Börse, including one for Polkadot (DOT) and another for Solana (SOL). The firm also has Bitcoin (BTC) and Ethereum (ETH) ETNs that trade on other European exchanges.
TRX is currently trading at $0.094872 at time of writing, down 10% on the day according to CoinGecko, as part of an overall dip that has affected the crypto market.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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