Asset management firm VanEck has filed an application with the US Securities and Exchange Commission (SEC) for an “Onchain Economy” exchange-traded fund (ETF). The filing, dated January 15, reveals that the ETF will focus on companies involved in the digital asset ecosystem.
The proposed fund aims to allocate 80% or more of its assets to businesses and financial instruments within the crypto and blockchain sectors, making it a significant step toward integrating the digital economy into traditional investment markets.
Investment Focus
According to the filing, VanEck’s Onchain Economy ETF will target a wide range of crypto-related firms, including:
- Software developers
- Mining companies
- Crypto exchanges
- Blockchain infrastructure providers
- Payment platforms
These firms are categorized as “Digital Transformation Companies”, selected based on criteria such as market trends, fundamental analysis, valuation, and strategic positioning within the digital asset ecosystem.
In addition to company stocks, the fund will invest in digital asset instruments, such as commodity futures contracts. However, it will not directly hold cryptocurrencies, focusing instead on indirect exposure to the market.
A Wave of Crypto ETF Filings
VanEck’s application is part of a broader trend of asset managers seeking approval for crypto-related ETFs. The wave of filings comes amid hopes for a more favorable regulatory environment following President-elect Donald Trump’s reelection and potential changes in SEC leadership.
Other recent ETF applications include:
- Bitwise: In November 2024, Bitwise submitted an application for the 10 Crypto Index Fund ETF, which tracks a basket of top cryptocurrencies, including Bitcoin.
- WisdomTree: In December 2024, the ETF provider filed for an XRP ETF, joining competitors like 21Shares, Canary Capital, and Bitwise.
- Grayscale: Also in December, Grayscale applied to convert its existing Grayscale Solana Trust into an ETF focused on Solana.
- REX Financial: The firm launched the REX Crypto Equity Premium Income ETF, employing a covered-call strategy to generate income from crypto-related stocks.
- Bitwise Bitcoin Standard Corporations ETF: Bitwise recently filed for this ETF, which would invest in companies with substantial Bitcoin holdings.
VanEck’s “Onchain Economy” ETF could provide investors with diversified exposure to the digital asset sector while avoiding direct cryptocurrency ownership. As the SEC continues to evaluate these proposals, the potential approval of such ETFs could significantly expand access to the crypto market for traditional investors.
