VanEck’s Onchain Economy ETF (NODE) Set to Launch on May 14th with 0.69% Fee
VanEck is set to launch the VanEck Onchain Economy ETF (NODE), an actively-managed fund designed to track digital asset stocks. After securing approval from the U.S. Securities and Exchange Commission (SEC), the fund will begin trading on May 14th with a management fee of 0.69%.
The NODE ETF will hold between 30 and 60 stocks, according to VanEck’s head of digital asset research, Matthew Sigel. The portfolio will include stocks from a diverse range of sectors, such as crypto exchanges, miners, data centers, energy infrastructure, semiconductors, hardware, traditional finance (TradFi) rails, gaming, asset managers, and balance sheet holders. Additionally, up to 25% of NODE’s exposure will be in crypto exchange-traded products (ETPs).
Sigel noted, “The global economy is shifting to a digital foundation. NODE offers active equity exposure to the real businesses building that future.”
To comply with U.S. federal tax regulations, the ETF will use an offshore subsidiary in the Cayman Islands. This will allow the fund to gain indirect exposure to products like commodity futures, swaps, and pooled investment vehicles.
With an increasing number of crypto-related companies going public, there’s growing demand for exposure to crypto equities. A survey of financial advisors at an ETF conference in March revealed that crypto equity ETFs are one of the most sought-after investment categories.
