VanEck has filed with the SEC to launch the Digital Assets ETF related to the performance of top cryptocurrency companies.
VanEck, a major American investment management firm, is making
another attempt to launch a digital asset-related exchange-traded fund,
or ETF.
According to a Jan. 21 filing
with the United States Securities and Exchange Commission, VanEck’s new
ETF is called the Digital Assets ETF. The new fund would track the
price and performance of the Global Digital Assets Equity Index run by its subsidiary MV Index Solutions.
According
to the document, the new Digital Assets ETF “normally invests” at least
80% of its total assets in securities that comprise the Fund’s
benchmark index. The index tracks the performance of the digital assets
segment.
VanEck elaborated that digital asset companies refer to
companies that operate digital asset exchanges, payment gateways, mining
operations, software, equipment and technology or services to the
digital asset industry, and others.
In order to be initially
eligible for inclusion in the index, a company must generate at least
50% of its revenues from digital assets projects or projects having the
potential to generate such revenues, the filing reads.
“Companies
with less than 50% of their revenues from the global digital assets
segment, including semiconductor and online money transfer companies,
may be added to the Index to reach a minimum component number,” VanEck
noted.
VanEck is famous for being the first company to file for a Bitcoin (BTC) ETF in the United States. After several failed attempts, VanEck filed a new Bitcoin ETF application on Dec. 31, 2020. As reported by Cointelegraph, VanEck is facing a lawsuit from blockchain firm and former-partner SolidX over its latest BTC ETF for alleged plagiarism.
source link : https://cointelegraph.com/news/vaneck-files-with-sec-for-etf-that-tracks-crypto-companies-performance
