Asset management firm, VanEck, has revealed its new actively managed exchange-traded fund (ETF) named ‘Onchain Economy’ on May 14. This innovative financial instrument is aimed at investing in stocks and financial platforms that provide exposure to the burgeoning digital economy. The new ETF, known as NODE, is listed on the Cboe exchange and is targeted at investors seeking comprehensive exposure to the blockchain ecosystem.
The NODE ETF will invest in a wide range of companies operating within the blockchain space. These include crypto miners, exchanges, infrastructure providers, and fintech platforms that have a focus on cryptocurrency, according to a press release from VanEck.
The fund will also consider investments in any companies that have shown a clear intent to operate in the crypto space, as evidenced by public filings, earnings calls, or investor materials. However, it’s worth noting that the NODE ETF will not hold any cryptocurrencies directly.
The portfolio will be actively managed and updated as new players enter the industry through IPOs, spinouts, or strategy shifts. Matthew Sigel, VanEck’s head of digital asset research and the NODE ETF’s portfolio manager, shared that the fund would also adjust beta and volatility to maintain responsible exposure to Bitcoin and to businesses propelling the growth of the onchain economy.
In April, VanEck also launched the Digital Transformation ETF (DAPP) that passively tracks companies operating in the digital asset space. The DAPP ETF boasts $185 million in net assets as of May 14. Currently, asset managers like VanEck are seeking the US Securities and Exchange Commission’s (SEC) permission to list over 70 crypto ETFs in response to the SEC’s softened regulatory stance towards crypto under President Donald Trump’s administration.
On May 5, VanEck approached the SEC for approval to list an ETF that holds the native token of the BNB Chain.
