VanEck Receives SEC Approval for Onchain Economy ETF Launch
VanEck has received approval from the U.S. Securities and Exchange Commission (SEC) to launch an actively-managed ETF focused on digital asset stocks, named the VanEck Onchain Economy ETF (NODE).
- NODE will include 30-60 stocks related to crypto exchanges, miners, data centers, and more.
- The management fee is set at 0.69%.
- Up to 25% of NODE's exposure will be in crypto exchange-traded products (ETPs).
- The fund aims to start trading on May 14th.
- It will utilize an offshore subsidiary in the Cayman Islands for compliance with U.S. tax regulations.
- A recent survey indicates strong interest among financial advisors in crypto equity ETFs.
Matthew Sigel, head of digital asset research at VanEck, stated that NODE provides active equity exposure to companies shaping the future digital economy.