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The U.S. Securities and Exchange Commission (SEC) has granted approval for a new exchange-traded fund (ETF) focused on the cryptocurrency sector, developed by the financial giant VanEck. Named the “Onchain Economy ETF,” the fund is set to include stocks from 30-60 cryptocurrency-related companies in its portfolio. Matthew Sigel will oversee the management of the fund, which is expected to begin trading under the ticker NODE, with its launch slated for May 14.
Investing in Crypto Stocks
The ETF’s expected portfolio will comprise stocks from firms closely associated with the cryptocurrency sector. This includes companies engaged in mining operations, cryptocurrency exchanges, data center operators, energy infrastructure providers, hardware manufacturers, traditional financial system health firms, gaming companies, asset managers, and other relevant investment categories. Moreover, up to 25% of the portfolio is anticipated to be allocated to other cryptocurrency-themed ETFs.
Matthew Sigel, who will manage the ETF, emphasized the transformation of the digital economy. He stated that the fund supports investments that align with future market dynamics and the digitalization of the global economy. Below is a statement from Sigel:
“The global economy is transitioning to a digital foundation. NODE provides opportunities for active equity investment in real businesses building the future.” – Matthew Sigel
Investment Strategy
Following SEC’s approval of the first spot Bitcoin 
$0.000038 ETFs in January 2024, permission for Ethereum 
$0.00014-focused ETFs was granted in July. These developments have led to significant capital flow into the cryptocurrency market, fostering increased competition in the sector.
VanEck currently offers Bitcoin and Ethereum-themed ETF products and is involved in applications for other cryptocurrencies like Solana 
$164 and Avalanche, though these applications are still pending approval. This situation indicates efforts to enhance product diversity within the cryptocurrency sector.
Market players are closely monitoring the rising interest and competitive landscape in the cryptocurrency domain. The new ETF is seen as a way to offer investors diversified opportunities in various crypto sector stocks, bolstering hopes for the sector’s development.
Regulatory actions towards the digital asset sector and the introduction of new products are viewed as significant advancements for portfolio diversification and risk distribution. Investors can shape their long-term strategies by keeping abreast of developments in the sector and approaching market fluctuations with caution.
