VanEck to launch Avalanche ecosystem fund
VanEck plans to launch the PurposeBuilt Fund in June, targeting tokenized Web3 projects on the Avalanche blockchain. The fund will be exclusive to accredited investors and will invest in liquid tokens and venture-backed projects across sectors like gaming, financial services, payments, and AI. Idle capital will be allocated to Avalanche real-world asset products, including tokenized money market funds. The fund will be managed by the team behind VanEck’s Digital Assets Alpha Fund, which oversees over $100 million in assets. VanEck has also launched new actively managed ETFs focused on the digital economy and a passive index of crypto companies. Asset managers are seeking SEC approval for around 70 crypto ETFs following a regulatory shift. Avalanche is positioned as a hub for real-world assets, with $1.5 billion in total value locked as of May 21. The ecosystem supports institutional-oriented projects and emphasizes utility over speculative investments.
