Asset manager VanEck has recently filed with the SEC an application to launch an exchange-traded fund (ETF) called "Onchain Economy," as reported by Matthew Sigel, VanEck's head of digital asset research, in a social media post that has since been removed.
The ETF, as stated in the filing, will invest in various cryptocurrency companies, including software developers, mining companies, crypto exchanges, infrastructure builders, payments companies and other companies in the sector.
Subscribe to our Telegram channel to get weekly short digests about events that shape the crypto world
The asset manager refers to these companies as "Digital Transformation Companies" and mentions that they will be chosen based on fundamental analysis, market trends, strategic positioning in the digital asset ecosystem and valuation.
Although the fund will invest in digital asset instruments, such as commodity futures contracts, it will not hold any cryptocurrencies directly.