VanEck’s New ETF Targets Digital Asset Stocks – Coincu

VanEck plans to launch an ETF focused on digital asset stocks after receiving SEC approval.

This development highlights growing institutional interest in crypto-related equities.

VanEck’s SEC-Approved Fund Gains Digital Asset Access

VanEck’s Onchain Economy ETF has been approved by the SEC, enabling it to target digital asset stocks through an actively managed fund. The fund is set to hold between 30 and 60 stocks linked to the digital asset economy, with a 0.69% management fee.

The NODE ETF includes a maximum of 25% exposure in cryptocurrency trading products (ETPs), while covering a wide range of sectors like mining, semiconductors, and asset management. This initiative offers investors a diversified exposure to firms engaged in the burgeoning crypto industry.

Market reactions have been muted, with few direct comments from top industry figures. However, the SEC’s approval is seen as a broad validation of crypto-related investments.

“Now in effect: VanEck Onchain Economy ETF ($NODE) Actively managed, $NODE will aim to hold 30-60 names from over 130 titles linked to the universe of the digital asset economy… The global economy is shifting to a digital base. NODE offers active equity exposure to real companies that are building this future.” – Matthew Sigel, Head of Digital Asset Research at VanEck

Bitcoin Prices Surge Amid Regulatory Approvals

Did you know? The approval of VanEck’s ETF follows a series of US spot Bitcoin and Ethereum ETFs introduced in January 2024, which had previously led to increased liquidity and market interest.

Bitcoin (BTC) recently reported a 24-hour price increase of 0.72%, positioning its current value at $85,040.73. With a market cap exceeding $1.69 trillion and a dominance of 63.21%, BTC saw a 7-day rise of 6.55%, according to CoinMarketCap data.

Insights from Coincu highlight that regulatory acceptance of crypto-linked financial products in US public markets may drive mainstream adoption, influencing both the broader financial markets and technological innovations. The ETF’s linkage to firms like Coinbase and Nvidia signifies the increasing convergence of crypto and traditional finance.