VanEck, a financial giant in the United States, has launched a crypto-related Exchange-Traded Fund (ETF). The SEC approved it.
Matthew Sigel will be VanEck’s director of digital asset research and will oversee the “Onchain Economy ETF,” a new ETF that will, according to him, hold between 30-60 crypto-related stocks.
These stocks include mining companies, cryptocurrency exchanges and data centers. They also include hardware manufacturers, financial institutions, asset management firms, game developers, trading firms, as well as other investments in the crypto space.
ETFs will be able to allocate as much of their portfolio (up to 25%) towards crypto assets exchange traded funds.
Sigel said the ETF would use the ticker number NODE, and that it aims to be launched by the 14th of May.
The global economy has shifted to a more digital basis. NODE provides active equity exposure in the businesses that are building this future .”
In January 2024 the SEC approved the first Bitcoin ETFs on the spot market, which brought in millions of dollars in inflows. The regulator then allowed Ethereum ETFs to be traded in July last year. Franklin Templeton, Hashdex and other financial companies launched BTC-ETH joint ETFs in the first half of this year.
VanEck offers ETH, BTC and Solana ETFs. It has also filed exchange traded funds for Avalanche and Solana.
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The ICD first published the article SEC Approves VanEck’s new ‘Onchain economy ETF’ that holds stocks tied to digital assets sector.
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