VanEck continues European expansion into crypto with exchange-traded note tracking Celestia's TIA

Asset manager VanEck has listed a new exchange-traded product tracking TIA, the native token for the modular blockchain's data availability layer Celestia.

"The demand for the TIA token is a direct result of the need for Celestia's services, as all interactions on Celestia are denominated and paid for in TIA," Menno Martens, the crypto product manager at VanEck Europe, said in a statement. "As more and more developers utilize Celestia's services to build high-throughput, full-stack applications, we see growth potential for Celestia."

The VanEck Celestia ETN, an exchange-traded note, is issued on Euronext Amsterdam and Euronext Paris, two of the oldest stock exchanges in the world.

Celestia, built using Cosmos’ Tendermint tech, is designed to improve blockchain scalability by separating consensus and data availability functions from transaction execution. Validators stake the TIA token to secure the network and determine the order of transactions, which are then executed by other chains.

An exchange-traded note is a type of ETP that provides investors exposure without having to own an underlying asset. ETNs are unsecured debt obligations rather than asset-backed funds.

VanEck has become a growing player in the blockchain space. The firm offers a number of ETNs — predominantly offered in Europe —  tracking tokens for Avalanche, Bitcoin, Ethereum, Polkadot, Solana and TRON and was one of the first firms to launch a spot Bitcoin exchange-traded fund.

On Tuesday, the firm filed the first ETF prospectus to list a BNB fund in the U.S. It was also the first to file with the U.S. Securities and Exchange Commission for a Solana ETF.

VanEck is a global investment management firm founded in New York City in 1955. The firm focuses on providing investors with access to specialized and often underrepresented asset classes, markets and strategies primarily through single-asset or thematic exchange-traded products and private funds.