VanEck files with SEC for ETF that tracks crypto companies’ performance
VanEck, a significant American financial investment management firm, is making another attempt to release a digital asset-related exchange-traded fund, or ETF.According to a Jan. 21 filing with the United States Securities and Exchange Commission, VanEcks new ETF is called the Digital Assets ETF. The brand-new fund would track the cost and performance of the Global Digital Assets Equity Index run by its subsidiary MV Index Solutions.According to the document, the new Digital Assets ETF “generally invests” a minimum of 80% of its total assets in securities that consist of the Funds benchmark index. The index tracks the efficiency of the digital assets segment.VanEck elaborated that digital asset companies describe business that run digital asset exchanges, payment gateways, mining operations, innovation, equipment and software or services to the digital property industry, and others. In order to be initially qualified for addition in the index, a company should produce a minimum of 50% of its earnings from digital assets jobs or tasks having the prospective to generate such incomes, the filing checks out.” Companies with less than 50% of their earnings from the global digital properties sector, consisting of semiconductor and online cash transfer companies, may be contributed to the Index to reach a minimum part number,” VanEck noted.VanEck is famous for being the first company to apply for a Bitcoin (BTC) ETF in the United States. After a number of stopped working attempts, VanEck submitted a brand-new Bitcoin ETF application on Dec. 31, 2020. As reported by Cointelegraph, VanEck is dealing with a suit from blockchain company and former-partner SolidX over its newest BTC ETF for supposed plagiarism.Title: VanEck submits with SEC for ETF that tracks crypto business performanceSourced From: cointelegraph.com/news/vaneck-files-with-sec-for-etf-that-tracks-crypto-companies-performancePublished Date: Fri, 22 Jan 2021 11:42:02 +0000
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