VanEck eyes new crypto ETF for onchain economy infrastructure
VanEck has filed for an Onchain Economy Exchange-Traded Fund (ETF) with the US Securities and Exchange Commission (SEC). The ETF aims to provide exposure to the crypto ecosystem by investing in companies and instruments related to digital assets, avoiding direct cryptocurrency investments. It plans to allocate at least 80% of its net assets to "Digital Transformation Companies," which include crypto exchanges, payment processors, blockchain miners, and software providers. The fund will also invest in digital asset instruments like commodity futures and pooled vehicles but will exclude stablecoins. Investments will be selected through detailed market analysis, focusing on strategic positioning and trends. A subsidiary based in the Cayman Islands will facilitate investments in specific digital asset instruments, adhering to US tax regulations, with a cap of 25% of total assets in this subsidiary at each quarter's end.
