Fund manager VanEck has received approval from the Securities and Exchange Commission to launch a new crypto ETF focusing on crypto-related stocks.
The Onchain Economy ETF (NODE) aims for long-term capital appreciation by investing at least 80% of its net assets in "Digital Transformation Companies and/or Digital Asset Instruments," which include those involved in exchanges and crypto mining. The management fee is set at 0.69%.
The actively managed NODE will target holding 30 to 60 stocks from a pool of over 130 companies connected to the digital asset economy, such as exchanges, miners, data centers, and more. Up to 25% of the fund's assets will be tied to crypto exchange-traded products.
The target launch date is May 14.
VanEck’s Continued Involvement in the Crypto ETF Market
VanEck has been significantly active in digital assets. The approval of NODE follows the firm’s recent investment in Manifest, a platform integrating American real estate with decentralized finance (DeFi). VanEck Ventures, launched last year, aims to foster innovation in sectors like crypto, fintech, and artificial intelligence.
The company's digital asset offerings also include its spot bitcoin fund, the VanEck Bitcoin ETF (HODL), spot ether fund, the VanEck Ethereum ETF (ETHV), and the VanEck Digital Transformation ETF (DAPP), which tracks companies working towards the digital economy.
“The global economy is shifting to a digital foundation,” noted Sigel. “NODE offers active equity exposure to the real businesses building that future.”
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