VanEck launched a new exchange-traded fund (ETF) on Nasdaq that aims to track companies working in the digital asset space
VanEck has launched a new exchange-traded fund (ETF) on the Nasdaq to track companies working in the cryptocurrency market or those with potential exposure to the nascent asset class.
VanEck launches new ETF on Nasdaq to offer exposure to digital asset-focused companies
However, this new exchange-traded fund (ETF) will not invest in cryptocurrencies directly or indirectly through derivatives. The ETF has a ticker symbol of DAPP.
DAPP would seek to track the performance of the MVIS Global Digital Assets Equity Index. The index would include companies that generate or have the potential to generate at least 50% of their revenues from digital assets projects or have at least 50% of their assets invested in direct digital asset holdings or digital asset projects.
Ed Lopez, managing director and head of ETF products at VanEck:
“We as a firm have long believed in the utility and viability of digital assets as an asset class, and we are thrilled to be providing investors with exposure to companies powering the digital transformation.”
VanEck also applied for a bitcoin ETF in December of last year. This is the company’s second attempt to get ETF approval from the US Securities and Exchange Commission (SEC). The SEC acknowledged VanEck’s application last month and must announce its decision later this month. The SEC may approve or deny the application or extend the review period.
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