VanEck Files for SEC Approval of “On-chain Economy” ETF

VanEck has submitted a filing to the US SEC for its “On-chain Economy” Exchange-Traded Fund (ETF). This ETF will focus on businesses and financial instruments related to the crypto industry without holding cryptocurrencies directly.

The fund plans to allocate at least 80% of net assets to “Digital Transformation Companies” and “Digital Asset Instruments.”
Investments will include crypto exchanges, payment gateways, mining operations, and companies with significant crypto holdings or revenues from digital asset projects.
“Digital Asset Instruments” encompass products like commodity futures and options linked to crypto.
Investments will be managed through a subsidiary in the Cayman Islands, complying with US tax regulations.
Subsidiary investments are capped at 25% of total assets per fiscal quarter.
VanEck previously proposed Solana ETFs and withdrew its Ethereum futures ETF due to underperformance.
The fund will target companies with substantial revenues from digital asset projects.
Investment selection will use market trends and fundamental analysis.
This strategy is similar to Bitwise’s “Bitcoin Standard Corporations ETF.”
The SEC is currently reviewing various ETF proposals, including postponements for additional assessments.

VanEck's head of digital assets research, Matthew Sigel, initially mentioned the ETF in a deleted post but subsequently confirmed details would follow.