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Home»EXCHANGE NEWS»VanEck discontinues multi-currency trading in USD for some ETPs.
EXCHANGE NEWS

VanEck discontinues multi-currency trading in USD for some ETPs.

By Crypto FlexsJanuary 13, 20243 Mins Read
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VanEck discontinues multi-currency trading in USD for some ETPs.
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VanEck announced that it will discontinue USD multi-currency trading for a subset of its Exchange Traded Products (ETPs). These include VDOT, VBTC, VETH, and VSOL. Although it is not listed on the SIX Swiss exchange, it can be purchased in USD and EUR at Euronext Amsterdam, Xetra and Euronext Paris respectively.

The suspension of trading activity will not affect the availability of CHF on the SIX Swiss Exchange. That action will not change. Multi-currency trading will be suspended from December 11, 2023 following the close of trading.

VanEck is currently led by CEO Jan van Eck. He believes that we must be bold and different rather than settling for traditional things. VanEck operates to provide investors with opportunities to strengthen their portfolios. The company’s approach is forward-thinking and intelligently designed to support value-added exposure.

VanEck’s asset value by AUM was $76.4 billion as of September 30, 2023. Additional products offered by the company include Exchange Traded Funds (ETFs), mutual funds, UCITS funds and institutional funds. Asia, Europe, Latin America and Australia are all included in VanEck’s local services.

VanEck has 377 full-time employees, 64 investment professionals and an average of 25 years of portfolio manager experience, according to its last public disclosure.

VanEck carries out initiatives related to different segments of the market. This includes tax information, income investments, Bitcoin and other digital assets.

Although the statement was released in mid-December last year, it had no effect on the market price of any token. For example, BTC is up 9.90% in the last 30 days. It hovers around 460,000 won. Likewise, ETH has increased by 17.655 over the past 30 days and is now worth $2,616.27. Over the past 30 days, SOL has increased by 49.49%. Solana’s native token is currently trading at $98.31 and is expected to surpass $100 in the coming days. ETH is likely to maintain its current margins, similar to BTC.

It is also reasonable to believe that the recent increase is the result of speculation about the SEC’s approval of the application following the approval of the Bitcoin ETF. Despite the disruption suffered in early January 2024, this restored market conditions. At the time, reports suggested that Bitcoin ETF applications could be rejected on the grounds that fund managers did not meet certain requirements.

VanEck has suspended USD multi-currency trading for some ETPs. Specific terms and conditions apply to each product, but deal breaks are part of regular reviews and details have not yet been revealed. We recommend that you visit VanEck’s official website to get a clear idea of ​​what products you can trade in.

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