Circle Becomes Top Holding in VanEck’s Crypto Index
Circle Internet Group (CRCL) comprises 13% of VanEck’s MVIS Global Digital Assets Equity Index (MVDAPP), reflecting its growing influence in the crypto economy, up from 11%. The MVDAPP tracks major companies in the crypto sector, requiring at least 50% of revenue from digital assets for inclusion. VanEck’s Digital Transformation ETF, which mirrors the MVDAPP, includes 24 companies like Coinbase and Block, and has over $210 million in net assets with a year-to-date return of 5.3%. Circle's stock surged 167% on its NYSE debut, now 750% above its IPO price of $31. Circle issues USDC, the second-largest digital dollar stablecoin, which may gain significance if the GENIUS Act passes Congress. Coinbase plans to integrate USDC into US futures markets next year.
