VanEck Launches Onchain Economy ETF ($NODE), Targeting Broad Digital Asset Exposure

Investment management firm VanEck has announced the launch of its new exchange-traded fund (ETF), the Onchain Economy ETF, with the ticker symbol NODE. The actively managed ETF aims to provide investors with diversified exposure to the burgeoning digital asset economy by investing in a range of companies and instruments closely tied to the sector.

According to Matthew Sigel, VanEck's head of digital assets research, the ETF will strategically hold between 30 and 60 names selected from a broader universe of over 130 stocks. This universe encompasses various segments crucial to the digital asset ecosystem, including cryptocurrency exchanges, Bitcoin miners, data centers supporting blockchain infrastructure, energy infrastructure providers, semiconductor and hardware companies, and traditional financial institutions involved in digital asset rails.

In a post on X, Sigel emphasized the broader economic shift driving this new ETF. "The global economy is shifting to a digital foundation. NODE offers active equity exposure to the real businesses building that future." He also noted that the fund may allocate up to 25% of its holdings to cryptocurrency exchange-traded products (ETPs), providing indirect exposure to digital assets themselves. The management fee for the ETF is set at 69 basis points. The targeted launch date for NODE is May 14th.

VanEck's filing with the SEC indicates that the fund will invest at least 80% of its net assets in "Digital Transformation Companies" and "Digital Asset Instruments." The latter category includes a variety of financial instruments such as commodity futures contracts, exchange-traded commodity-linked instruments (including options and options on futures contracts), swaps, and exchange-traded pooled investments.

This launch represents VanEck's latest move to offer investors exposure to the digital asset space. The firm has been an active player in this area, notably launching its spot Bitcoin ETF (ticker: HODL), which has already amassed over $1.2 billion in assets under management since its debut in January 2024, per SoSoValue data. VanEck was also among the first to file for a spot Solana ETF and recently offered the first prospectus for a BNB fund, demonstrating its commitment to providing diverse investment opportunities within the digital asset landscape.

By investing in the infrastructure and related industries supporting the digital asset economy, VanEck said it aims to capture the growth potential of the entire ecosystem, rather than being solely reliant on the price fluctuations of individual cryptocurrencies. This strategy could appeal to investors seeking a more diversified and potentially less volatile way to participate in the long-term growth of the digital asset market.