VanEck Files Application for On-Chain Economic Exchange-Traded Fund
In the rapidly evolving world of cryptocurrencies, VanEck, a well-known player in the industry, is rumoured to be considering a new investment product - the Onchain Economy ETF. However, as of July 2025, there is no confirmed existence of this product.
VanEck, renowned for its Bitcoin ETF (HODL), which focuses on direct Bitcoin exposure and supports Bitcoin developers, has shown an interest in blockchain-based assets beyond Bitcoin. If the Onchain Economy ETF were to materialise, it would likely offer broad exposure to the onchain economy, encompassing a diversified basket of blockchain-native assets, protocols, and possibly even tokenized real-world assets (RWAs). This would set it apart from single-asset ETFs, providing a more holistic, sector-based approach to the decentralised finance (DeFi) and Web3 ecosystem.
In contrast, existing Ethereum-based ETFs, such as the BlackRock iShares Ethereum Trust ETF and Grayscale Ethereum Trust ETF, focus on direct exposure to Ethereum, the second-largest cryptocurrency by market cap. These ETFs track the price of Ethereum, similar to how a spot Bitcoin ETF tracks Bitcoin, and are subject to Ethereum-specific risks.
A VanEck Onchain Economy ETF, if it were to come into being, would represent a thematic, diversified approach to crypto investing, targeting the growth of the entire blockchain economy rather than a single cryptocurrency. This contrasts sharply with BlackRock’s and Grayscale’s Ethereum ETFs, which are single-asset vehicles offering pure Ethereum exposure.
While the Onchain Economy ETF remains hypothetical, VanEck's strategic direction suggests a potential interest in this product. Until an official prospectus or announcement is made, investors will have to wait to see if this diversified approach to crypto investing becomes a reality.
- Given VanEck's strategic direction and the rumored Onchain Economy ETF, it seems they are considering moving beyond Bitcoin investing, exploring broader technology in the realm of finance, such as blockchain-based assets.
- If the Onchain Economy ETF materializes, it could potentially offer investment in technology like Ethereum, extending beyond Bitcoin, offering a diverse portfolio in the decentralized finance sector, differentiating from single-asset Ethereum ETFs like the BlackRock iShares Ethereum Trust ETF and Grayscale Ethereum Trust ETF.
