Wednesday, October 5, 2022

VanEck Pushes for ETF to Track Gold and Cryptocurrency Mining Firms

World-renowned investment manager VanEck, which boasts of managing assets worth about $82 billion has applied to the United States Securities and Exchange Commission (SEC) for a new and disruptive Exchange-Traded Fund (ETF) which puts funds into companies involved in the mining of gold and Bitcoin (BTC).

Going by the application papers submitted to the SEC, VanEck stated that it has no plans of directly investing in either cryptocurrencies or any of its derivatives, but rather would want this ETF’s radar to solely cover the output of both gold and other digital asset firms.

For a company with a deep history and penchant for identifying new opportunities that could trigger high performing investments for its clients, it is worth remembering that even with the recent denial that greeted the company by the SEC for an ETF application to invest directly in spot Bitcoin ETF, VanEck has remained undeterred in its commitment and stride at providing transformative investments products for its clients. 

This new ETF application by VanEck is however coming at a crucial time for the financial industry, even as the entire underlying framework of cryptocurrency is expected to be outlined in the coming days following the signing of an executive order by US President Joe Biden.

Divergent and Creative Asset Investments

Having been a key player and disruptor in the gold investing market, emerging markets, and now exchange-traded funds, VanEck is known for its superlative array of products across the several continents where it operates.

Sometime last year, VanEck opened up a new and exciting digital investment option to its teeming investors through the launch of its Digital transformation ETF (DAPP). This DAPP is known to allow for investment in firms that operate cryptocurrency exchange services, firms with a slant to mining, and those that are involved in crypto-related stocks. 

Earlier this year, VanEck’s European arm celebrated the launch of its new Exchange Traded Note (ETN) which gives its customers and investors the unique opportunity to put their funds in an array of cryptocurrencies. 

This landmark product which is accessible on the Deutsche Borse Xetra and several other Swiss Exchanges currently tracks digital assets such as bitcoin, Ethereum, Solana, and a couple more digital currencies.

Victoria Nye
A Blockchain columnist who is enthusiastic about developing a network interface between the real world and the cryptosphere.

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