VanEck, an asset management company, has broadened its cryptocurrency portfolio by introducing an investment product focused on Celestia.
Celestia is a modular blockchain aimed at enhancing the scalability of decentralized applications.
The newly launched product, which comes in an investor-friendly format, will provide both institutional and retail investors with access to the Celestia (TIA) token.
This platform tackles blockchain scalability challenges by improving data availability, which is a significant hurdle for decentralized networks. Its modular architecture allows developers to create high-throughput applications while retaining authority over their own blockchain environments.
Demand for TIA
The Celestia ecosystem is growing, and interest in its native token is increasing.
“The demand for the TIA token stems directly from the need for Celestia’s offerings, as all transactions on Celestia are conducted with TIA,” explained Menno Martens, Crypto Product Manager at VanEck Europe, in a statement shared with the media. “With more developers utilizing Celestia, we anticipate significant growth for its ecosystem.”
The VanEck Celestia strategy is among the first regulated exchange-traded products linked to Celestia, providing institutions with a structured approach to investing.
Mustafa Al-Bassam, co-founder of Celestia, remarked that this is an early step towards broader institutional engagement, with more options for interacting with the network likely on the horizon.