VanEck Files to Launch Digital Asset Mining ETF


Investment firm VanEck has filed with the SEC to launch an exchange-traded fund (ETF) focused on digital asset mining companies.

  • The fund will invest at least 80% of its total assets in securities of digital asset mining firms that generate or have the potential to earn at least 50% of their revenues from mining activities or related technologies.
  • The ETF’s holdings may include small- and medium-capitalization companies and foreign and emerging market issuers. It may also invest in depositary receipts and securities denominated in foreign currencies.
  • The ETF won’t invest directly in digital assets, nor in initial coin offerings.
  • The filing didn’t provide details of the planned ETF’s ticker, listing date or related fees.
  • Other ETFs that are listed in the U.S. and have heavy exposure to crypto miners include Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF (RIGZ), which is up 45% since its inception in July, and Bitwise Crypto Industry Innovators ETF (BITQ), which has climbed 26% since launching earlier this year.
  • VanEck launched a bitcoin futures ETF in mid-November, the third such fund to debut since SEC commissioner Gary Gensler expressed his preference for bitcoin ETFs that invested in futures rather than directly in bitcoin itself. Its proposal for a spot bitcoin ETF was rejected by the SEC.