VanEck seeks SEC approval for Onchain Economy ETF
VanEck seeks SEC approval for Onchain Economy ETF
VanEck, a prominent asset manager, has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch an "Onchain Economy" exchange-traded fund (ETF).
The proposal, submitted on Jan. 15, outlines plans to invest 80% or more of the fund’s assets in companies and instruments linked to the digital asset ecosystem, reports Cointelegraph.
According to the filing, the ETF will focus on "Digital Transformation Companies," which include crypto software developers, mining firms, exchanges, payment companies, and infrastructure builders. These businesses will be selected based on factors such as market trends, strategic positioning, and valuation. Additionally, the fund will invest in digital asset-related instruments, such as commodity futures contracts, but it will not hold cryptocurrencies directly.
The application reflects growing institutional interest in digital assets, spurred by optimism about a more favorable regulatory landscape under President Donald Trump’s administration, inaugurated earlier this month.
Wave of crypto ETF applications amid regulatory shift
VanEck’s filing follows a surge in similar applications from financial firms seeking to capitalize on what they perceive as a turning point for the U.S. crypto market. Bitwise Asset Management, for instance, submitted an application for its 10 Crypto Index Fund ETF in late 2024.
The renewed optimism among asset managers comes as industry players anticipate a friendlier stance from the SEC, especially given its new leadership under the Trump administration. These ETFs aim to provide investors with exposure to the rapidly growing digital asset sector while avoiding the direct volatility of holding cryptocurrencies.
If approved, the Onchain Economy ETF could mark a significant milestone for institutional adoption of digital assets. It underscores the increasing recognition of blockchain technology and cryptocurrencies as a critical component of the financial future. Market watchers will be closely monitoring the SEC’s response, which could set a precedent for the next wave of crypto investment products.
2025 could become a real boom year for ETF approvals, as the SEC may approve over 12 ETFs.
