VanEck Files For Onchain Economy ETF With SEC

According to Cointelegraph, asset manager VanEck has filed an application with the US Securities and Exchange Commission (SEC) for the "Onchain Economy" exchange-traded fund (ETF). This development was initially disclosed through a now-deleted social media post by VanEck’s head of digital assets research, Matthew Sigel. The proposed ETF aims to invest in various crypto-related firms, including software developers, mining companies, crypto exchanges, infrastructure builders, and payment firms, collectively referred to as "Digital Transformation Companies." These companies are selected based on fundamental analysis, market trends, strategic positioning within the digital asset ecosystem, and valuation. The fund will also invest in digital asset instruments like commodity futures contracts but will not directly hold cryptocurrencies. VanEck's application is part of a broader trend of ETF filings by financial firms, anticipating potential regulatory changes under new SEC leadership. Following the reelection of President-elect Donald Trump, several asset managers have been active in submitting or updating their crypto ETF applications, expecting a more favorable regulatory environment. Among these, digital asset manager Bitwise applied for the 10 Crypto Index Fund ETF in November 2024, which includes major cryptocurrencies such as Bitcoin (BTC), Ether (ETH), and others. Additionally, ETF provider WisdomTree filed for an XRP ETF in December 2024, joining other firms like 21Shares, Canary Capital, and Bitwise in seeking SEC approval. Grayscale, another digital asset management firm, also applied to convert its existing Grayscale Solana Trust into an ETF. In December, asset manager REX Financial launched the REX Crypto Equity Premium Income ETF, which employs a covered-call strategy to generate income from crypto stocks. More recently, Bitwise submitted a proposal to the SEC for the Bitwise Bitcoin Standard Corporations ETF, which would focus on companies with significant Bitcoin holdings. These filings reflect a growing interest in crypto ETFs as financial firms position themselves for potential regulatory shifts.