Investment Giant VanEck Launches SUI-based Financial Product

by

As a seasoned researcher with over two decades of experience in the financial industry, I find the partnership between VanEck and Sui to be a significant stride in the blockchain space.

Grand Cayman, Cayman Islands, November 13th, 2024, Chainwire

With a 70-year legacy of offering investment solutions across diverse industries and asset classes, privately held VanEck now provides millions of customers access to SUI

Financial company VanEck has launched a product tied to SUI. Known for providing investment opportunities in Bitcoin, Ethereum, and Solana, VanEck now offers an avenue for investors to gain exposure to SUI, the token linked to the innovative Layer 1 blockchain renowned for its exceptional industry performance and limitless horizontal scalability. This fully-backed financial product grants access to SUI for millions of investors.

Through VanEck’s latest product, millions can gain exposure to SUI without personally owning any SUI tokens in a crypto wallet. Instead, VanEck keeps the referenced SUI tokens securely in a regulated custodial setup, ensuring that the product’s worth aligns with the underlying tokens’ value. This new offering from VanEck makes it simple for users to invest and withdraw their funds, much like traditional financial products.

The recent debut of VanEck’s product supported by SUI signifies a strong institutional belief in Sui, backed up by significant on-chain advancements. These advancements include collaborations with companies like Copper, Zero Hash, Fordefi, and integrations of stablecoins such as USDC, AUSD, and the stablecoin-like USDY. Over the past year, Sui has witnessed exceptional growth, with a 430% increase in Total Value Locked (TVL) and DeFi volume skyrocketing by an impressive 692%. In August of 2024, further demonstrating support, Grayscale, a leading global crypto asset manager, introduced its Grayscale® Sui Trust.

Menno Martens, our Crypto Specialist and Product Manager at VanEck, expressed his enthusiasm about unveiling a new product that strengthens our collection of digital asset investment products. He explained that Sui’s impressive industry standing and its reputation as a pioneer, along with its cutting-edge technological advancements, made it the ideal addition to our portfolio. Martens believes this move will offer investors a distinctive chance to tap into one of the most sophisticated blockchain networks currently in use.

Gap Kim, Head of Marketing for the Sui Foundation, stated that VanEck’s development of a product built on SUI technology marks a crucial turning point for the Sui ecosystem and is a strong endorsement of Sui’s technological prowess and future aspirations. This move by VanEck, a well-respected figure in the investment sector, underscores the increasing institutional attention towards Sui.

To learn more, visit https://blog.sui.io/vaneck-investor-product/ or https://www.vaneck.com/.

About Sui

Sui represents a pioneering Layer 1 blockchain and smart contract system, constructed from scratch to ensure swift, confidential, secure, and universally accessible ownership of digital assets. Its unique object-focused design, using the Move programming language, empowers parallel processing, rapid finality within seconds, and versatile on-chain assets. Sui’s horizontally scalable architecture allows for rapid processing and storage at minimal cost, supporting a vast array of applications with unmatched speed. Sui signifies a significant leap forward in blockchain technology, offering creators and developers the foundation to create captivating user-friendly experiences. For additional details about Sui, please visit https://sui.io.

About VanEck

VanEck has a knack for venturing beyond traditional financial sectors to spot trends that could lead to significant investment prospects. In fact, VanEck was among the pioneers in the U.S., providing investors with access to foreign markets. This forward-thinking approach has been the foundation for their continuous pursuit of novel asset classes and trends, such as investing in gold back in 1968, emerging markets in 1993, and Exchange Traded Funds in 2006. These endeavors have significantly influenced the investment management sector over time.

Currently, VanEck provides both active and passive investment approaches that boast robust sector and region exposures backed by thoughtfully crafted investment methodologies. The company’s expertise spans from traditional core investments to more niche opportunities designed to bolster portfolio variety. Active management at VanEck is driven by thorough, bottom-up analysis and selection of securities by portfolio managers who have hands-on experience in the areas they invest. Key factors such as accessibility, liquidity, diversity, and transparency guide the seasoned decision-making in market and index selection for VanEck’s passive strategies.

From its establishment in 1955, prioritizing client needs above all else has been a fundamental part of VanEck’s purpose across various market conditions.

Contact

Sui Foundation
media@sui.io

Read More

2024-11-13 17:40