VanEck applies to launch a fund to invest in crypto companies

The funds will go into crypto exchanges, cryptocurrency mining firms, and futures contracts

16.01.2025 - 13:10

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3 min

What’s new? Investment firm VanEck has filed with the US Securities and Exchange Commission (SEC) to launch a new exchange-traded fund (ETF) called the Onchain Economy ETF. It will not directly purchase cryptocurrencies but instead invest assets under management in crypto exchanges, crypto payment platforms, and mining companies, as well as crypto investment instruments such as futures contracts.

SEC filing

What else is known? VanEck began working on the new fund after it liquidated the Ethereum Strategy ETF (EFUT) fund, which invested in Ethereum futures, in September 2024. Earlier that year, the SEC approved spot ETFs on the largest altcoin.

VanEck is also the issuer of a spot ETH ETF, a product under the ticker ETHV traded on the CBOE Stock Exchange, which has raised $130,31 million since launch and accumulated $154,12 million in assets under management. For January 15, net inflows totaled $2,53 million.

VanEck also manages a spot bitcoin fund HODL, since its launch in January, it has raised $841,49 million and accumulated bitcoins under management for $1,42 billion. Daily inflow amounted to $16,98 million.

US will launch ETFs based on securities of companies investing in BTC

The fund’s issuer will be Donald Trump associate Vivek Ramaswamy’s Strive company

Last summer, the company applied to create a spot fund based on the Solana (SOL) blockchain native token. But the current SEC guidance rejected it, citing concerns that the asset was a security and therefore could not be the basis for a commodity fund.

With Donald Trump’s inauguration on January 20, a new cryptocurrency-friendly administration will take office, and the chances of new crypto investment products launching this year are increasing.

Laser Digital predicts that there could be 12 new SOL and XRP-based funds on the market. JPMorgan assumed that ETFs based on these altcoins would overtake Ethereum funds in the first six months after their launch.

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