VanEck files for new ETF to track crypto and gold mining companies

VanEck, an concern steadfast with astir $82 cardinal successful assets nether management, has submitted an exertion to the United States Securities and Exchange Commission (SEC) for the motorboat of a caller exchange-traded money that invests successful golden mining and Bitcoin (BTC) mining companies.

According to the SEC document filed connected March 3, the money volition absorption connected securities successful an scale that reflects the show of golden mining and integer assets mining firms. It would not put successful cryptocurrencies straight oregon done derivatives. However, determination was nary ticker oregon outgo ratio mentioned successful the document.

VanEck ETF Trust files with the SEC-VanEck Digital Assets Mining ETF https://t.co/pSaogEzRVW

— Exchangetradedfunds (@ETFsinfo) March 8, 2022

The quality of VanEck's projected money comes arsenic concerns implicit a caller circular of U.S. regularisation linger successful the air. The U.S. president, Joe Biden, is expected to sign an enforcement bid aboriginal this week that volition acceptable distant the country's cryptocurrency strategy.

The bid volition instruct national agencies, including the SEC, to taxable reports connected what measures they've taken regarding integer assets aboriginal this year. The medication has travel nether occurrence for not providing capable clarity connected cryptocurrency regulation.

In November, the SEC denied a VanEck ETF that would person bought BTC directly. Despite manufacture figures advocating for 1 for years, the regulator has not yet approved specified a fund. With the groundwork for regulating the crypto abstraction commencing, regulators whitethorn beryllium delaying the support of specified ETFs until a much coagulated regulatory model is enactment successful place.

Related: Customer request prompts Charles Schwab record for Crypto Economy ETF

Earlier this year, VanEck announced the instauration of its archetypal cryptocurrency fund. The money is listed connected the Deutsche Boerse Xetra and SIX Swiss exchanges arsenic an exchange-traded note, oregon ETN, with vulnerability to BTC, ETH, DOT, SOL, TRX, AVAX and MATIC.

In April past year, VanEck introduced its Digital Transformation ETF (DAPP), which invests successful firms that supply cryptocurrency exchanges, miners, and different crypto-related stocks. The steadfast besides launched its Bitcoin Strategy Fund (XBTF), which invests successful cash-settled Bitcoin futures contracts.