Leading asset management firm VanEck has filed for an Onchain Economy Exchange-Traded Fund (ETF), according to a January 15 report. submit with the US Securities and Exchange Commission (SEC).
This proposed fund aims to provide exposure to the broader crypto ecosystem by investing in companies and instruments related to digital assets. The fund outlines a strategy that avoids direct investments in cryptocurrencies.
Designed as an actively managed fund, the Onchain Economy ETF builds on the model of existing crypto stock funds but introduces a new brand strategy. According to the filing, the fund plans to allocate at least 80% of its net assets to “Digital Transformation Companies” or digital asset vehicles.
Onchain Economy ETF
VanEck identifies digital transformation companies as crucial players in the digital asset ecosystem. These include crypto exchanges, payment processors, blockchain miners and software providers.
This group also includes companies involved in manufacturing crypto-related hardware or operating data centers, as well as companies that own digital assets or generate revenue from blockchain initiatives.
It added:
“Digital Transformation Companies may include small and mid-capitalization companies and foreign and emerging markets, and the Fund may invest in depositary receipts for shares and securities denominated in foreign currencies.”
The ETF’s scope extends to digital asset instruments, such as commodity futures contracts, exchange-traded commodity products, swaps and pooled vehicles, which provide exposure to significant digital assets based on market capitalization.
However, the fund explicitly excludes stablecoins from its investment pool.
VanEck will select investments based on detailed market analysis. This approach will assess companies based on strategic positioning and emerging trends within the digital assets sector.
Meanwhile, the ETF includes a subsidiary based in the Cayman Islands that facilitates investments in specific digital asset instruments. This arrangement allows the fund to comply with U.S. federal tax regulations, which restrict direct investments by registered funds in specific financial products.
VanEck’s filing notes that investments in this subsidiary will not exceed 25% of the fund’s total assets at the end of each quarter.
