Asset management giant VanEck has officially applied for approval from the U.S. Securities and Exchange Commission (SEC) to launch the “Onchain Economy” exchange-traded fund (ETF), aimed at capitalizing on the rapidly expanding digital assets sector.
The application, revealed by VanEck’s head of digital assets research, Matthew Sigel, on January 15, 2025, details plans for a fund that would invest predominantly in businesses involved in the digital asset ecosystem. The ETF aims to allocate at least 80% of its assets to companies such as cryptocurrency exchanges, mining firms, infrastructure providers, software developers, and payment solutions — collectively known as “Digital Transformation Companies.”
VanEck’s proposed ETF would not directly hold cryptocurrencies, but instead focus on products within the digital asset sector, including commodity futures contracts. The company emphasized that its investment strategy would be driven by a thorough process of fundamental research, market trends, valuations, and each company’s contribution to the broader digital asset ecosystem.
The filing is part of a larger surge in ETF applications as the financial sector increasingly turns its attention to the digital assets market. This trend is fueled by speculation that the regulatory environment for cryptocurrencies may become more favorable under the administration of President Donald Trump. Notably, Bitwise Asset Management filed for its 10 Crypto Index Fund ETF in November 2024, which tracks major cryptocurrencies like Bitcoin, Ethereum, and Solana.
In recent months, firms such as WisdomTree, 21Shares, Canary Capital, and Grayscale Investments have also applied for ETFs targeting specific digital assets, including XRP and Solana. Additionally, REX Financial launched the REX Crypto Equity Premium Income ETF, which uses a covered-call strategy to generate income from crypto-related stocks.
These moves reflect the growing interest in digital assets among institutional investors and signal a potential shift toward increased cryptocurrency accessibility, depending on the SEC’s response to these applications.
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