Fund manager VanEck has received approval from the U.S. Securities and Exchange Commission to launch a new crypto ETF that tracks crypto-related stocks.
According to SEC filings, the Onchain Economy ETF (NODE) seeks long-term capital appreciation by investing at least 80% of its net assets in “digital transformation companies and/or digital asset vehicles,” such as those operating exchanges and engaging in cryptocurrency mining. The management fee is 0.69%.
Matthew Sigel, head of digital asset research at VanEck, said on X that the actively managed NODE fund aims to hold 30 to 60 stocks from more than 130 stocks related to the digital asset economy. Sigel said the stocks will cover exchanges, miners, data centers, energy infrastructure, semiconductors, hardware, TradFi railroads, consumer/gaming, asset managers, and “balance sheet holders.” He also added that up to 25% of the fund will be invested in cryptocurrency exchange-traded products.
The target launch date is May 14.
VanEck Continues its Move into Crypto ETFs
VanEck is no stranger to the digital asset space. Less than a month before NODE’s approval, the firm’s VanEck Ventures announced an investment in Manifest, a platform that brings U.S. real estate to decentralized finance (DeFi). VanEck Ventures was founded last year to support innovation in the cryptocurrency, fintech and artificial intelligence (AI) sectors.
The fund manager’s digital asset products include the Spot Bitcoin Fund, VanEck Bitcoin ETF (HODL), the Spot Ether Fund, VanEck Ethereum ETF (ETHV) and the VanEck Digital Transformation ETF (DAPP), which tracks a market-cap-weighted index of companies participating in the digitization of the world economy through a variety of digital assets.
“The global economy is shifting to a digital foundation. NODE provides active equity investments in the physical businesses that are building the future,” Siegel said via X.
