VanEck has launched a new actively managed exchange-traded fund (ETF) designed to invest in stocks and financial instruments offering exposure to the digital economy, the asset manager said on May 14.
The VanEck Onchain Economy ETF (NODE) is listed on the Cboe exchange and aims to provide investors with broad exposure to companies operating in the blockchain ecosystem, including crypto miners, exchanges, infrastructure providers, and crypto-oriented financial technology platforms, VanEck said in a press release.
The NODE ETF will also “consider any company that has clearly communicated plans to engage in this space, as evidenced through public filings, earnings calls or investor materials,” VanEck said.
Additionally, the fund, which will be actively managed, may also invest in crypto-related financial instruments but will not hold any cryptocurrencies directly, according to the press release.
“As new companies enter the universe through IPOs, spinouts or strategy shifts, we will continuously update our investable universe,” Matthew Sigel, VanEck’s head of digital asset research and the NODE ETF’s portfolio manager, said in a statement.
“We will also adjust beta and volatility to maintain responsible exposure to bitcoin and to businesses driving the growth of the onchain economy, avoiding over-allocation to high-beta names during frothy markets and preserving buying power for future opportunities,” he said.
Beta refers to a financial asset’s exposure to market volatility.
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Other ETF filings
In April, VanEck launched another ETF tracking crypto companies. The VanEck Digital Transformation ETF (DAPP) invests in a passive index of companies operating in the digital asset space.
The DAPP ETF has $185 million in net assets as of May 14, according to its website.
Asset managers such as VanEck are requesting the US Securities and Exchange Commission’s (SEC) permission to list upward of 70 crypto ETFs.
The flurry of ETF filings is in response to US President Donald Trump softening the SEC’s regulatory posture toward crypto after taking office in January.
On May 5, VanEck asked the SEC for a green light to list an ETF holding the BNB Chain’s native token.
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