Source: Cointelegraph
Original: “VanEck Launches 'On-Chain Economy' ETF”
VanEck launches a new ETF to invest in the blockchain ecosystem.
On May 14, VanEck announced that the asset management company has launched a new actively managed exchange-traded fund (ETF) aimed at investing in stocks and financial instruments that provide exposure to the digital economy.
The VanEck On-Chain Economy ETF (NODE) has been listed on the Cboe exchange, with the goal of providing investors with broad exposure to companies operating within the blockchain ecosystem, including cryptocurrency miners, exchanges, infrastructure providers, and cryptocurrency-focused fintech platforms, VanEck stated in a press release.
VanEck noted that the NODE ETF will also "consider any company that has clearly expressed plans to enter this field, with such plans needing to be confirmed through public documents, earnings call meetings, or investor materials."
Additionally, according to the press release, this actively managed fund may also invest in crypto-related financial instruments but will not directly hold any cryptocurrencies.
"As new companies enter the investment space through IPOs, spin-offs, or strategic transformations, we will continuously update the investable scope," said Matthew Sigel, VanEck's Head of Digital Asset Research and Portfolio Manager for the NODE ETF, in a statement.
He stated, "We will also adjust the beta coefficient and volatility to maintain reasonable exposure to Bitcoin and companies driving on-chain economic growth, avoiding over-allocation to high beta assets during market bubbles, and preserving purchasing power for future opportunities."
The beta coefficient refers to the sensitivity of a financial asset to market volatility.
In April, VanEck launched another ETF tracking cryptocurrency companies. The VanEck Digital Transformation ETF (DAPP) invests in a passive index composed of companies operating in the digital asset space.
According to its website, as of May 14, the DAPP ETF has a net asset value of $185 million.
Asset management companies like VanEck are applying to the U.S. Securities and Exchange Commission (SEC) for permission to list over 70 cryptocurrency ETFs.
This wave of ETF applications is a positive response to U.S. President Donald Trump's easing of the SEC's regulatory stance on cryptocurrencies after taking office in January.
On May 5, VanEck submitted an application to the SEC seeking approval to list an ETF that holds Binance Coin (BNB) native tokens.
Related: Analysts say: Strategy companies outperform all public stocks by investing in Bitcoin (BTC).
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