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VanEck has filed for a new exchange-traded fund (ETF) targeting companies involved in building infrastructure for digital assets rather than crypto exposure.
Dubbed the Onchain Economy ETF, the new product aims to allocate at least 80% of its assets to "Digital Transformation Companies" and digital asset instruments.
Such companies include crypto exchanges, payment gateways, mining firms, and other organizations providing core infrastructure services for the digital asset ecosystem.
In a filing with the US Securities and Exchange Commission (SEC), VanEck said the fund would also back firms offering core technology, infrastructure, and data center capacities supporting digital asset operations.
"Digital Transformation Companies are selected based on a combination of fundamental analysis, market trends, the company's strategic positioning within the digital asset ecosystem, and valuation," VanEck explained.
"For Digital Asset Instruments, the Adviser seeks to target investments that offer exposure to the largest digital assets by market capitalization, excluding stablecoins."
The Onchain Economy ETF intends to establish a subsidiary in the Cayman Islands to manage certain digital asset investments. Exposure to these investments will be capped at 25% of total assets per quarter, ensuring compliance with regulatory frameworks.
In a now-deleted post, VanEck head of digital assets Matthew Sigel revealed that he will be managing the fund, "aiming for long-term capital appreciation through investments in digital asset instruments."
Earlier this week, VanEck's Solana staking rewards for investors in Europe were introduced, via a Solana exchange-traded note (ETN).
Blockhead
"Every day, Solana staking rewards will be reflected in the ETN’s net asset value," VanEck said about its VSOL $73.9 million product.
A 25% fee will be charged on staking rewards and the adjusted rewards will be incorporated into VSOL’s end-of-day NAV by 4 p.m. CET.
