Frankfurt (6 April 2022) – MV Index Solutions GmbH (MVIS®) in partnership with CryptoCompare, today announced the licensing of the MVIS CryptoCompare Algorand VWAP Close Index (ticker: MVALGOV), MVIS CryptoCompare FTX Token VWAP Close Index (ticker: MVFTTV) and the MVIS CryptoCompare Terra VWAP Close Index (ticker: MVLUNAV) to VanEck Europe as underlying indices for their three new crypto ETNs (Exchange Traded Notes). These products will provide investors with the opportunity to gain exposure to Algorand, FTX Token and Terra on an exchange-traded basis.
The indices are designed to measure the performance of the respective digital assets – Algorand, FTX Token and Terra, with a closing value based on an hourly Volume Weighted Average Price (VWAP).
“We are happy VanEck has licensed another three digital assets indices given the success of the products based on the MVIS CryptoCompare Avalanche VWAP Close and MVIS CryptoCompare Polygon VWAP Close indices," said Thomas Kettner, COO of MV Index Solutions.
“As the top dog in the crypto market, the Bitcoin ETN is still in the line-up. Younger platforms in particular offer many advantages, such as lower transaction costs or faster processes,” said Martijn Rozemuller, CEO at VanEck Europe. “In addition, cryptocurrencies are a good way to diversify one's portfolio due to their low correlation to other asset classes,” he adds. “But the market continues to be in flux: There are now more than 10,000 different cryptocurrencies and no one knows which networks will be the most important in ten years,” he continued.
“CryptoCompare is delighted to work with MVIS to license a selection of new indices to VanEck that will be used to underlie three digital asset ETNs. These new products will help address the growing demand for regulated digital asset investment products and provide investors with a means of gaining exposure to a wider selection of digital assets,” said Charles Hayter, CEO and Co-Founder of CryptoCompare.
The MVIS CryptoCompare Algorand VWAP Close Index (ticker: MVALGOV), MVIS CryptoCompare FTX Token VWAP Close Index (ticker: MVFTTV) and the MVIS CryptoCompare Terra VWAP Close Index (ticker: MVLUNAV) are rules-based indices and calculated in USD as price return indices. Detailed information about the Indices, including methodology details and index data, is available on the MV Index Solutions website.