VanEck has applied to the U.S. Securities and Exchange Commission (SEC) for an ETF focused on the digital economy.
VanEck's ETF Application
VanEck, an asset management firm, has filed an application with the SEC seeking to launch a new exchange-traded fund named "Onchain Economy." This was revealed in a now-deleted social media post by Matthew Sigel, VanEck’s Head of Digital Assets Research.
Plans and Strategy
The proposed ETF aims to allocate at least 80% of its assets to companies and products within the digital asset ecosystem, including software developers, mining companies, exchanges, infrastructure providers, and more. VanEck's strategic approach focuses on fundamental research, market trends, valuations, and each company's contribution to the digital asset ecosystem.
Context and Regulatory Changes
VanEck's application follows a trend in the ETF market spurred by expectations of improved regulatory conditions for cryptocurrencies in the U.S. This development comes after Grayscale Investments received SEC approval to convert its Solana Trust into an ETF, highlighting the financial sector's growing interest in digital assets.
VanEck's application for the Onchain Economy ETF underscores the firm's commitment to invest in digital transformation and anticipates future regulatory shifts in the U.S.
