VanEck is set to launch a cryptocurrency stock tracking ETF

BlockBeats News, April 17th, according to CoinDesk's report, VanEck plans to launch an actively managed Exchange-Traded Fund (ETF) tracking digital asset stocks after receiving approval from the U.S. Securities and Exchange Commission (SEC).

VanEck's Director of Digital Asset Research, Matthew Sigel, stated that the VanEck Onchain Economy ETF (NODE) will target holding 30 to 60 stocks with a management fee of 0.69%.

The fund's stocks will cover areas such as cryptocurrency exchanges, miners, data centers, energy infrastructure, semiconductors, hardware, traditional financial infrastructure, consumer/gaming, asset management companies, and "balance sheet holders." Up to 25% of NODE's exposure will be invested in cryptocurrency exchange-traded products (ETPs).