VanEck, a large US investment management company, is making a new attempt to start a digital asset trading fund, or ETF.
VanEck’s new ETF is called the Digital Asset ETF, according to filing with the US Securities and Exchange Commission on January 21. The new fund will track the price and performance of the Global Equity Index for digital assets, which is maintained by the subsidiary MV Index Solutions.
According to the document, the ETF for new digital assets invests at least 80% of the total assets in the securities that make up the benchmark index for the fund. The index tracks the performance of the digital assets sector.
Vanik explained that companies with digital assets refer to companies that exchange digital assets, payment portals, mining, software, hardware, technology or services for the digital real estate industry, among others.
The app says that in order for a company to be included in the index in the first place, it must generate at least 50% of the income from digital asset projects or projects that have the potential to generate this income.
“Companies with less than 50% of revenue from the global digital assets sector, including semiconductor companies and online money transfer companies, can be added to the index to achieve a minimum number of components,” Vanik said.
VanEck is known as the first company to apply for the Bitcoin ETF (BTC) in the United States. After several failed attempts, on December 31, 2020, VanEck sent a new Bitcoin ETF request. VanEck is facing lawsuits from blockchain company and its former partner SolidX over the latest BTC ETF for plagiarism, reports Cointelegraph.