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crypto.news 2025-01-16 01:22:56

VanEck seeks SEC approval for Onchain Economy ETF

Will the SEC approve VanEck’s entry into the growing digital asset investment space? On Jan. 15, 2025, asset management company VanEck filed an application with the U.S. Securities and Exchange Commission for the “Onchain Economy” exchange-traded fund. Matthew Sigel, VanEck’s head of digital assets research, disclosed the filing in a now-deleted social media post, revealing the company’s ambitious plans to invest in the rapidly growing digital transformation sector. Deleted a post on an ETF filing. Details coming soon — matthew sigel, recovering CFA (@matthew_sigel) January 15, 2025 The proposed ETF aims to allocate at least 80% of its assets to businesses and products within the digital asset ecosystem. These include software developers, mining firms, cryptocurrency exchanges, infrastructure providers, payment firms, and other crypto-focused companies collectively referred to as “Digital Transformation Companies.” VanEck outlined a strategic selection process for these investments, emphasizing fundamental research, market trends, valuation, and each company’s role in the broader digital asset ecosystem. While the fund will not directly hold cryptocurrencies, it plans to invest in digital asset products such as commodity futures contracts. VanEck’s application is part of a broader wave of activity in the ETF market, driven by speculation that the regulatory environment may become more favorable for cryptocurrencies under President Donald Trump’s administration. Bitwise Asset Management applied in November 2024 for its 10 Crypto Index Fund ETF, which tracks leading cryptocurrencies such as Bitcoin ( BTC ), Ethereum ( ETH ), and Solana ( SOL ). You might also like: Osprey Funds to convert Bitcoin Trust into ETF as Bitwise acquisition talks end In December last year, WisdomTree joined 21Shares, Canary Capital, and Bitwise in submitting applications for ETFs focused on specific digital assets like XRP ( XRP ). Grayscale Investments also petitioned the SEC to convert its existing Solana Trust into an ETF, while REX Financial launched the REX Crypto Equity Premium Income ETF, which employs a covered-call strategy to generate income from crypto-related stocks. These developments reflect the financial sector’s growing interest in digital assets and the anticipation of regulatory clarity. As the SEC evaluates these applications, the industry is poised for a potential shift that could reshape institutional and retail access to cryptocurrency investments. You might also like: Thailand SEC considers green lighting Bitcoin ETFs as active crypto accounts near 300k

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