Investment Giant VanEck Launches SUI-based Financial Product

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

Investment firm VanEck has introduced a product representing
SUI. VanEck, known for its financial products that provide access to Bitcoin,
Ethereum, and Solana, now offers exposure to SUI, the token behind the
groundbreaking Layer 1 blockchain recognized for its industry-leading
performance and infinite horizontal scalability. This fully-collateralized
financial instrument provides millions of investors access to SUI.

With the new offering from VanEck, millions can now access
SUI without needing to hold SUI in a crypto wallet. VanEck holds the referenced
SUI tokens in a regulated custodian environment covered by each note, ensuring
that the product’s value tracks the underlying tokens’ value. Like other
financial products, the new VanEck offering enables users to easily invest and
divest.

The launch of VanEck’s SUI-backed product is the latest
demonstration of institutional confidence in Sui, following notable on-chain
developments. These include partnerships with services like Copper, Zero Hash
and Fordefi and the integration of stablecoins such as USDC, AUSD, and the
stablecoin-like USDY. Over the past year, Sui has experienced remarkable
growth, with total value locked (TVL) increasing by 430% and DeFi volume
surging by 692%. In August, 2024, in another show of support, Grayscale, one of
the world’s largest crypto asset managers, launched its Grayscale® Sui Trust.

“We are excited to introduce this product as part of our
growing portfolio of digital asset investment products,” said Menno Martens,
Crypto Specialist and Product Manager at VanEck. “Sui’s proven track record and
reputation as an industry leader, as well as its innovative and technological
advancements, made this the next logical product to house in the portfolio. We
believe this development will give investors a unique opportunity to access one
of the most advanced blockchain networks available today.”

“The creation of this SUI-based product by VanEck is a
pivotal moment for the Sui ecosystem and a significant vote of confidence in
Sui’s technology and long-term vision,” said Gap Kim, Head of Marketing for the
Sui Foundation. “VanEck is a trusted leader in the investment industry, and the
decision to offer SUI as part of their product suite underscores the growing
institutional interest in Sui.”

About Sui

Sui (https://sui.io) is a first-of-its-kind Layer 1
blockchain and smart contract platform designed from the ground up to make
digital asset ownership fast, private, secure, and accessible to everyone. Its
object-centric model, based on the Move programming language, enables parallel
execution, sub-second finality, and rich on-chain assets. With horizontally
scalable processing and storage, Sui supports a wide range of applications with
unrivaled speed at low cost. Sui is a step-function advancement in blockchain
and a platform on which creators and developers can build amazing user-friendly
experiences.

About VanEck

VanEck has a history of looking beyond the financial markets
to identify trends that are likely to create impactful investment
opportunities. VanEck was one of the first U.S. asset managers to offer
investors access to international markets. This set the tone for the firm’s
drive to identify asset classes and trends—including gold investing in 1968,
emerging markets in 1993, and Exchange Traded Funds in 2006—that subsequently
shaped the investment management industry.

Today, VanEck offers active and passive strategies with
compelling exposures supported by well-designed investment processes. The
firm’s capabilities range from core investment opportunities to more
specialized exposures to enhance portfolio diversification. VanEck’s actively
managed strategies are fueled by in-depth, bottom-up research and security
selection from portfolio managers with direct experience in the sectors and
regions in which they invest. Investability, liquidity, diversity, and
transparency are key to the experienced decision-making around market and index
selection underlying VanEck’s passive strategies

Since VanEck’s founding in 1955, putting its clients’
interests first, in all market environments, has been at the heart of the
firm’s mission.

This article was written by FL Contributors at www.forexlive.com.