VanEck submits application for on-chain economy ETF to the U.S. SEC
Asset management company VanEck submitted an application for the "Onchain Economy" Exchange Traded Fund (ETF) to the U.S. Securities and Exchange Commission on January 15th. According to the document, this fund will invest in cryptocurrency companies across the entire industry, including software developers, mining companies, cryptocurrency exchanges, infrastructure builders, payment companies and other businesses in the field of cryptocurrencies. The asset manager defines these companies as "digital transformation companies", writing: "The selection of digital transformation companies is based on fundamental analysis, market trends, strategic positioning within the digital asset ecosystem and valuation." The fund will also invest in digital asset tools such as commodity futures contracts but will not directly invest in digital assets by holding cryptocurrencies.
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