VanEck launches exchange-traded Sui offering in Europe
VanEck, an investment firm that manages over $100 billion in assets, is adding Sui — a layer one blockchain designed by former Meta engineers— to its growing basket of crypto products.
Sui, launched in May 2023, is a blockchain that makes it easier for developers to deploy smart contracts and touts its ability to process multiple transactions simultaneously. It has managed to amass a market cap of $8.8 billion, climbing to the seventeenth-largest cryptocurrency since its launch just a year and a half ago.
CEO and co-founder of Sui Evan Cheng told Fortune that the new investment product is a vote of confidence in Sui’s technology as well as a sign that the traditional finance space is taking the nascent coin…
