VanEck applies for SEC approval to launch an Onchain Economy ETF.
January 15, 2025, asset management firm VanEck submitted an application to the U.S. Securities and Exchange Commission (SEC) for the "Onchain Economy" exchange-traded fund (ETF).
The filing was initially disclosed by Matthew Sigel, VanEck’s Head of Digital Assets Research, in a social media post that has since been deleted. This move underscores the company’s ambitious plans to invest in the rapidly expanding digital transformation sector.
The proposed ETF intends to allocate at least 80% of its assets to businesses and products within the digital asset ecosystem, including software developers, mining companies, cryptocurrency exchanges, infrastructure providers, payment platforms, and other crypto-centric enterprises collectively referred to as "Digital Transformation Companies."
VanEck outlined a comprehensive investment strategy for the fund, focusing on fundamental research, market trends, valuations, and the strategic role of each company in the broader digital asset ecosystem. While the ETF will not directly invest in cryptocurrencies, it plans to allocate resources to digital asset-related products, such as commodity futures contracts.
This filing is part of a larger surge in ETF activity, fueled by expectations of a more favorable regulatory environment for cryptocurrencies under President Donald Trump’s administration. For example, Bitwise Asset Management applied in November 2024 for its 10 Crypto Index Fund ETF, which tracks leading cryptocurrencies such as Bitcoin, Ethereum, and Solana.
Similarly, in December 2024, WisdomTree joined 21Shares, Canary Capital, and Bitwise in submitting ETF applications focused on specific digital assets, including XRP.
Grayscale Investments also sought SEC approval to convert its existing Solana Trust into an ETF, while REX Financial launched the REX Crypto Equity Premium Income ETF, employing a covered-call strategy to generate income from crypto-related stocks.
These developments highlight the financial industry’s increasing interest in digital assets and the growing anticipation of regulatory clarity. As the SEC evaluates these applications, the cryptocurrency market stands on the cusp of a transformation that could redefine institutional and retail access to digital asset investments.
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