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Major players in the cryptocurrency industry continue to expand their presence. Numerous companies have introduced crypto products, with giants like BlackRock and Fidelity issuing ETFs. However, there is more to report, particularly with BlackRock launching funds on Ethereum 
$1,600, the largest smart contract platform. Today’s focus is on VanEck, which has announced a new altcoin fund.
VanEck’s Crypto Investment Initiative
VanEck, a US-based investment management company overseeing over $118 billion in customer assets, is taking significant steps in the crypto space. Established since 1955, the firm quickly adapted to cryptocurrencies and has begun issuing products tailored to this market. With the launch of VanEck Ventures, the company is now entering the realm of crypto venture capital.
The concept of crypto VC has been known for years. These firms invest in teams that develop cryptocurrency protocols in their early stages. As the protocol eventually issues tokens or gains revenue through other means, they typically reap significant returns from their initial investments, often represented by assets received in token unlock events.
Crypto and AI Fund
VanEck’s latest initiative aims to attract more capital to the crypto market, targeting an initial $30 million. The fund will be managed by former Circle Ventures executives Wyatt Lonergan and Juan Lopez, focusing on ventures at the intersection of cryptocurrency and artificial intelligence.
This fund will support projects related to tokenization and stablecoin platforms, as well as nascent initiatives. VanEck Ventures Fund I aims to make 25 to 35 investments, with each investment ranging from $500,000 to $1 million. What interests investors the most?
- Token prices may rise based on the assumption that projects vetted by VanEck are trustworthy.
- VanEck’s investment could attract more interest from companies, further promoting growth.
- Monitoring VanEck’s investment news may help in discovering promising early-stage crypto protocols.
In August alone, cryptocurrency projects raised $2.2 billion from investment companies.
