VanEck plans to launch a cryptocurrency stock tracking ETF

ChainCatcher news, according to CoinDesk, VanEck plans to launch an actively managed exchange-traded fund (ETF) that will track digital asset stocks after receiving approval from the U.S. Securities and Exchange Commission (SEC).

Matthew Sigel, Head of Digital Asset Research at VanEck, stated that the VanEck Onchain Economy ETF (NODE) will aim to hold 30 to 60 stocks. The management fee is 0.69%.

The fund's stocks will cover areas such as cryptocurrency trading platforms, miners, data centers, energy infrastructure, semiconductors, hardware, traditional financial infrastructure, consumer/gaming, asset management companies, and "balance sheet holders." NODE's maximum 25% exposure will be invested in cryptocurrency trading products (ETPs).