Key Takeaways
- The VanEck Onchain Economy ETF aims to invest at least 80% in digital transformation companies and digital asset instruments.
- The ETF primarily gains exposure through instruments such as commodity futures and exchange-traded 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 the “Onchain Economy ETF” that would invest heavily in digital asset transformation companies and digital asset instruments such as crypto ETPs.
The proposed fund, which would trade under the ticker NODE, aims to allocate at least 80% of its net assets to “Digital Transformation Companies” and “Digital Asset Instruments,” according to report preview materials submitted on January 15.
“Digital Transformation Companies” includes companies involved in various aspects of the digital asset ecosystem, such as crypto exchanges, companies that provide payment gateways, mining operations, and companies that provides software or infrastructure services for the operation of digital assets.
“Digital Transformation Companies” in the fund area cover those who have digital asset projects or have substantial digital assets. The investment strategy also includes companies that provide technology, energy infrastructure, data center capacity, and other services that support digital asset operations.
The ETF does not invest directly in digital assets such as Bitcoin or other crypto assets. Instead, he will gain knowledge through these companies and instruments.
Matthew Sigel, VanEck's head of digital asset research, said more information about the ETF will come soon.
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