VanEck files for new ETF investing heavily in crypto ETPs and digital transformation firms
Key Takeaways
- The VanEck Onchain Economy ETF aims to invest at least 80% in digital transformation companies and digital asset instruments.
- The ETF will primarily gain exposure through instruments like commodity futures and exchange-traded linked vehicles, not direct digital assets.
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VanEck, a prominent fund manager overseeing more than $118 billion in assets, is seeking SEC approval to launch a new ETF called “Onchain Economy ETF” that will invest heavily in digital asset transformation companies and digital asset instruments like crypto ETPs.
The proposed fund, which plans to trade under the ticker NODE, will allocate at least 80% of its net assets to “Digital Transformation Companies” and “Digital Asset Instruments,” according to prospectus materials submitted on Jan. 15.
“Digital Transformation Companies” include firms involved in various aspects of the digital asset ecosystem, such as crypto exchanges, firms providing payment gateways, mining operations, and companies providing software services or infrastructure for digital asset operations.
“Digital Transformation Companies” in the fund’s scope cover those that operate digital asset projects or own substantial digital assets. The investment strategy also encompasses companies that provide technology, energy infrastructure, data center capacity, and other services supporting digital asset operations.
The ETF will not directly invest in digital assets like Bitcoin or other crypto assets. Instead, it will gain exposure through these companies and instruments.
Matthew Sigel, VanEck’s head of digital assets research, said more details about the ETF will come soon.
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Author: Vivian Nguyen
