VanEck Files for Onchain Economy ETF

On Wednesday, investment manager VanEck submitted a filing for a new exchange-traded fund (ETF) called the Onchain Economy ETF.

According to the prospectus filing with the U.S. Securities and Exchange Commission, the fund will invest at least 80% of its net assets in digital transformation companies and/or digital asset instruments. This means the fund will prioritize investments in companies focused on digital assets, including exchanges, crypto payment platforms, and mining firms, as well as virtual asset investment vehicles like commodity futures contracts.

The proposed Onchain Economy ETF comes after VanEck shut down its Ethereum Strategy ETF (EFUT) on September 2, 2024. Instead of investing in ethereum directly, EFUT invested in ethereum futures. The fund’s closure followed the SEC’s approval of spot ether ETFs in May.

On Tuesday, VanEck’s spot Ethereum fund ETHV attracted $1.64 million, while the firm’s spot Bitcoin ETF HODL reached $15.87 million in volume, according to The Block’s Data Dashboard.