VanEck files to launch Onchain Economy ETF

Investment firm VanEck has filed with the SEC to launch an exchange-traded fund called the Onchain Economy ETF.

According to the filing, the new financial product will not make direct investments in cryptocurrencies or commodities. Instead, “at least 80% of net assets will be directed to companies engaged in digital transformation and/or instruments based on digital assets”.

The fund will target exchanges, payment platforms and mining firms, as well as investment instruments linked to virtual assets, such as futures contracts.

The filing comes a few months after the closure of EFUT, an ether-futures-based product. 

In the segment of spot ether ETFs, BlackRock’s iShares Ethereum Trust ETF (ETHA) and Grayscale’s Grayscale Ethereum Trust ETF (ETHE) dominate:

Net inflows into Ethereum-based ETFs on 15 January totaled $59.78 million.  

In December, VanEck analysts predicted ether at $6,000 at the peak of the current bull cycle.