Investment management company VanEck has filed a request with the SEC to launch a digital asset-related Exchange Traded Fund (ETF).
According to a U.S. Securities and Exchange Commission filing, the company’s product is called the Digital Assets ETF. The proposed exchange-traded fund will track the performance of the MVIS® Global Digital Asset Equity Index, which tracks the performance of companies in the crypto industry. MV Index Solutions is a company owned and operated by VanEck.
Aside from cryptocurrency exchanges and large mining operators, the index also tracks the performance of various crypto payment gateways and companies that hold cryptocurrencies in their reserves. Companies that generate at least 50% of their revenues from digital asset projects are eligible for inclusion in the index.
The SEC filing details the Digital Assets Fund plans to invest at least 80% of its total assets in securities that comprise its benchmark index.
The 21 January filing represents the third time VanEck has filed for an ETF. The company previously filed a Bitcoin ETF application on 31 December 2020, which is still in review. In 2019, VanEck withdrew its joint ETF proposal with SolidX on two separate occasions.