VanEck files prospectus for 'Onchain Economy' ETF
The investment manager VanEck submitted Wednesday a filing for a new exchange-traded fund called the Onchain Economy ETF.
Though the fund does not itself invest in digital assets or commodities, it invests "at least 80% of its net assets in digital transformation companies and/or digital asset instruments," according to the prospectus filing with the U.S. Securities and Exchange Commission. In other words, the fund will prioritize investments in digital asset-focused companies such as exchanges, crypto payment platforms and mining firms, in addition to virtual asset-focused investment vehicles like commodity futures contracts.
VanEck's proposed Onchain Economy ETF comes after the firm shut down and liquidated its ether futures ETF called the Ethereum Strategy ETF ( EFUT ) in September 2o24. Rather than invest in ethereum directly, EFUT invested in ethereum futures. The fund's closure came after the SEC approved spot ether ETFs in May.
On Tuesday, VanEck's spot Ethereum fund ETHV brought in $1.64 million and the firm's spot Bitcoin ETF HODL amassed $15.87 million in volume, The Block's Data Dashboard shows.
