VanEck&#039, s Files New &#039, Onchain Economy &#039, ETF to Target Crypto Infrastructure, Not Coins

Asset management firm VanEck filed for a new exchange-traded fund ( ETF ) on Wednesday, targeting companies building infrastructure for digital assets.

Importantly, the firm’s construction avoids direct bitcoin exposure, as is typical from another ETFs, but maintains exposure to the online asset markets it compiles.

The Onchain Economy ETF seeks to manage at least 80 % of its resources to” Digital Transformation Companies” and digital asset equipment, according to a January 15 SEC processing reviewed by .

These organizations include crypto markets, payment gateways, mining operations, and organizations providing network providers.

It also seeks to invest in firms providing the primary systems, system, and data core capacities that support online resource operations.

” Digital Transformation Organizations are selected based on a combination of basic research, business trends, the company’s corporate placement within the online resource ecology, and valuation”, VanEck stated in the filing.

For digital resource instruments, however, VanEck notes in the processing that while it seeks to “target investments that offer coverage to the largest online assets by business capitalization”, this fund would remove stablecoins.

It’s unclear whether this explanation even includes stablecoin issuers in general or just their products and offerings. VanEck did not immediately return Decrypt’s request for comment.

The fund intends to establish a Cayman Islands company to handle certain digital property investments, with exposure set at a quarter-clear for 25 % of the total assets.

VanEck’s latest processing follows a wave of new crypto ETF files. In November, Grayscale requested that its Solana Trust be converted into an ETF in December of last year, while Bitwise announced intentions for a 10 Crypto Index Fund ETF in November.

Wednesday’s processing follows VanEck’s shutdown of its Ethereum future ETF in September last month.

A blog about the filing was deleted by VanEck’s Mind of Digital Assets Matthew Sigel, good as a result of the U.S. Securities and Exchange Commission’s regulations, which forbid the disclosure of specific information while a proposal is being reviewed.