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.