Investment firm VanEck has launched a thematic exchange-traded fund (ETF) in Europe that offers exposure to companies in cryptocurrency and blockchain.
- Dubbed the “VanEck Vectors Digital Assets Equity UCITS ETF,” the fund is listed on the London Stock Exchange and Deutsche Boerse under the ticker “DAPP” with a total expense ratio (TER) of 0.65%.
- “It's great to see a pure-play crypto equity ETF come to market in Europe,” Gabor Gurbacs, digital asset director at VanEck, told CoinDesk Thursday. “It's the first of its kind.”
- DAPP will track the MVIS Global Digital Assets Equity Index, made up of companies that generate at least 50% of their revenue from digital assets (or have the potential to do so), or have 50% of their assets invested in direct digital asset holdings or projects.
- A decision was pushed back to June, according to an SEC announcement April 28.
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.