VanEck Onchain Economy ETF Receives SEC Nod, Eyes May 14 Debut

Asset Manager Vaneck has received approval from the US Securities and Exchange Commission to state a stock market-bound fund when following blockchain infrastructure builders and related assets.

The fund, called the Onchain Economy ETF, has a provisional debut of 14 May, Vaneck Head of Digital Assets Research Matthew Sigel said in a post on social media on Thursday. With the Ticker $ junction, the investment vehicle wants to retain between 30 and 60 assets that are linked to the blockchain economy.

“The world economy is shifting to a digital foundation”, Sigel said In the post. “NODE offers active share exposure to the real companies that build that future.”

The Onchain Economy ETF will consist of fairs, miners and data centers; Consumer -oriented companies and asset managers; And companies that have cryptocurrencies in their treasury reserves, according to Sigel. In addition, digital assets-treated products can represent up to 25% of the interests of the fund.

A Proposal for the ETF Posted on January 15 with American federal supervisors also shows that “digital transformation companies” and digital assets instruments could represent at least 80% of the participations of the investment vehicle.

Vaneck’s upcoming launch of his blockchain-oriented ETF comes as an increasing number of investment firms approval from federal supervisors who offer digital assets-based funds to American investors.

Those requests increased in the run-up to the re-election of the government of Pro-Crypto US President Donald Trump, who has since ordered a major revision of the SEC, which is largely responsible for regulating the States of the Cryptocurrency industry.

In the midst of that overhaul, EXPENTEN has submitted more than a dozen requests for ETFs, who largely try to follow the prices of various blue-chip tokens and altcoins, including Solana, XRP, Litecoin, official Trump and Bonk. In the meantime, at least one issuer has indicated his ambitions to launch a fund that follows the prices of the Pudgy Penguins NFT collection.

Published by James Rubin