Van Eck launches ETF for digital asset-focused companies on NASDAQ

Asset manager VanEck has launched a new ETF on Nasdaq that aims to track companies working in the digital asset space, or companies exposed to early asset classes. The Block reported this on the 14th (local time).

Called the Digital Transformation ETF, the product will provide exposure to a variety of companies in the digital asset sector, including cryptocurrency exchanges, miners, payment gateways, hardware and technology providers.

“However, this fund will not invest directly or indirectly in cryptocurrencies through derivatives,” said Van Eck. The ticker symbol of this ETF is’DAPP’.

DAPP tracks the price and performance of the MVIS Global Digital Assets Equity Index. “Companies with the potential to generate or generate 50% or more of their revenue through digital asset projects, or companies that directly invest in digital asset holdings or digital asset projects, are in this index,” said Van Ek. Will be included.”

“We have long believed in digital assets as an asset class that is both useful and viable, and we are excited to provide investors with exposure to the companies that are driving digital transformation,” said Ed Lopez, Van Eck’s Managing Director and Head of ETF Products. “He said.

Van Eck also applied for a Bitcoin ETF in December of last year. This is the company’s second attempt to obtain ETF approval from the Securities and Exchange Commission (SEC).

The SEC approved Van Eck’s application last month, and the decision should be announced later this month. The SEC may approve, reject or extend the review period.

(Asset manager VanEck has launched a new exchange-traded fund (ETF) on Nasdaq that aims to track companies working in the digital asset space or those that have exposure to the nascent asset class.)

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