VanEck Files to Launch Digital Asset Mining ETF

The fund will invest at least 80% of its assets in digital mining firms.

AccessTimeIconDec 2, 2021 at 2:28 p.m. UTC
Updated Dec 2, 2021 at 3:14 p.m. UTC

Aoyon Ashraf is crypto mining reporter with more than a decade of experience in covering equity markets

Investment firm VanEck has filed with the SEC to launch an exchange-traded fund (ETF) focused on digital asset mining companies.

  • The fund will invest at least 80% of its total assets in securities of digital asset mining firms that generate or have the potential to earn at least 50% of their revenues from mining activities or related technologies.
  • The ETF’s holdings may include small- and medium-capitalization companies and foreign and emerging market issuers. It may also invest in depositary receipts and securities denominated in foreign currencies.
  • The ETF won’t invest directly in digital assets, nor in initial coin offerings.
  • The filing didn’t provide details of the planned ETF’s ticker, listing date or related fees.
  • Other ETFs that are listed in the U.S. and have heavy exposure to crypto miners include Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF (RIGZ), which is up 45% since its inception in July, and Bitwise Crypto Industry Innovators ETF (BITQ), which has climbed 26% since launching earlier this year.
  • VanEck launched a bitcoin futures ETF in mid-November, the third such fund to debut since U.S. Securities and Exchange Commission Chair Gary Gensler expressed his preference for bitcoin ETFs that invested in futures rather than directly in bitcoin itself. Its proposal for a spot bitcoin ETF was rejected by the SEC.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Aoyon Ashraf is crypto mining reporter with more than a decade of experience in covering equity markets

CoinDesk - Unknown

Aoyon Ashraf is crypto mining reporter with more than a decade of experience in covering equity markets

Trending

1
CoinDesk - Unknown
Three Arrows Paper Trail Leads to Trading Desk Obscured Via Offshore Entities

As Three Arrows Capital collapsed under market pressure, its much-lesser known trading desk, TPS Capital, remained active, sources say. But a complex ownership structure might frustrate creditors' efforts to collect.

CoinDesk - Unknown
2
CoinDesk - Unknown
June Was Bitcoin’s Worst Month Ever

Plus, European crypto regulation comes into view.

CoinDesk - Unknown
3
CoinDesk - Unknown
What Traders Are Saying About Bitcoin's Biggest Monthly Loss in 11 Years

Poor macroeconomic sentiment, fears of inflation and systemic risks from the crypto market pushed the cryptocurrency below 2017’s highs.

CoinDesk - Unknown
4
CoinDesk - Unknown
Three Arrows Capital Files for Bankruptcy in New York Tied to British Virgin Islands Proceeding

A British Virgin Islands court ordered Three Arrows' BVI branch into liquidation earlier this week.

CoinDesk - Unknown