VanEck applies to launch ETF providing exposure to crypto-related companies

Investment firm VanEck has filed a request to register an exchange-traded fund (ETF) that will allow institutional investors to invest in the shares of cryptocurrency-related companies.

According to the заявке on the SEC’s website, the instrument named VanEck Vectors ETF Trust will be tied to the MVIS® Global Digital Assets Equity, which tracks the performance of companies in the cryptocurrency space.

The fund plans to invest more than 80% of its assets in index constituents, including companies for which more than 50% of revenues come from digital assets. Among them are cryptocurrency exchange operators, payment services firms, mining companies, and holders of large holdings of digital currencies.

Back in December, VanEck filed a new application to launch a Bitcoin-based ETF. The investment firm with about $49 billion in assets has twice filed similar applications with the SEC, but both times the regulator rejected them and the firm withdrew them.

Earlier, fintech startup SolidX accused VanEck of plagiarism of the Bitcoin ETF launch proposal. The two companies had been working together to develop an exchange-traded fund and filed a joint application in 2018.

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