VanEcks Onchain Economy ETF NODE cleared for May 14 launch

VanEck received regulatory effectiveness for its new Onchain Economy ETF, an actively managed fund designed to give investors broad exposure to companies powering the digital asset ecosystem.

Regulatory effectiveness means the SEC has approved the funds registration, allowing it to begin offering shares to the public.

Matthew Sigel, VanEcks head of digital assets research and NODEs active portfolio manager, shared the development in an April 16 post.

According to the filing, the firm intends to launch the ETF on May 14 under the ticker NODE.

NODE

The actively managed fund will seek exposure to equities tied to the crypto industry and may allocate up to 25% of its assets to crypto-linked exchange-traded products (ETP).

Sigel said that NODE will select 30 to 60 names from over 130 companies operating in the on-chain and digital infrastructure sectors.

These include publicly listed exchanges, miners, data center operators, payment firms, hardware manufacturers, asset managers, and firms holding crypto on their balance sheets. The ETF will charge a management fee of 0.69%.

The funds active approach aims to track the transition of traditional financial and industrial operations toward blockchain-enabled models.

In contrast to spot crypto ETFs, NODE will not hold direct crypto positions and instead target public companies with strategic exposure to digital assets or blockchain infrastructure.

VanEck initially filed for the Onchain Economy ETF with the US Securities and Exchange Commission on Jan. 15. The ETF builds on the structure of existing crypto equity products while adopting a broader investment scope and revised branding strategy.

Filing and investment scope

According to the filing, the fund intends to allocate at least 80% of its net assets to securities defined as Digital Transformation Companies or digital asset instruments.

The filing describes Digital Transformation Companies as firms that generate revenue from activities involving crypto, blockchain, or other distributed ledger technologies. These may include small- and mid-cap issuers, foreign entities, and emerging market stocks.

The ETF also permits investments in securities denominated in foreign currencies, American and global depositary receipts, and select commodity-linked instruments.

The ETF includes an offshore subsidiary domiciled in the Cayman Islands. This structure enables indirect exposure to digital asset instruments such as commodity futures, swaps, and pooled investment vehicles while complying with US federal tax regulations that limit direct exposure by registered investment companies.

VanEck specified that investments in this subsidiary would not exceed 25% of the funds total assets at the end of each quarter. The fund will exclude stablecoins from its investment universe and prioritize companies that demonstrate material participation in blockchain-based business models.

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Text source: CryptoSlate

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