VanEck has introduced the VanEck Onchain Economy ETF, trading under the ticker NODE, an actively managed exchange-traded fund aimed at giving investors diversified access to the digital asset economy without direct crypto holdings. Announced on May 14, 2025, NODE targets public companies involved in blockchain-related businesses, including crypto miners, exchanges, data centers, energy providers, and fintech firms leveraging crypto technology.
The fund invests in 30 to 60 companies selected from over 130 candidates and makes allocations based on market trends and each company's Bitcoin (BTC) sensitivity. It avoids holding cryptocurrencies directly but can invest up to 25% of its assets in crypto-linked exchange-traded products like Bitcoin ETFs through a Cayman Islands subsidiary. This structure allows compliance with U.S. tax laws while gaining indirect exposure to crypto products such as swaps and futures.
Importantly, NODE excludes stablecoins and limits subsidiary exposure to 25% quarterly. VanEck’s Head of Digital Assets Research, Matthew Sigel, emphasizes the ETF's goal to offer diversification and liquidity along with a lower-volatility alternative compared to pure crypto strategies. The management fee is 0.69%.
The launch coincides with growing institutional interest in blockchain infrastructure and complements VanEck’s existing crypto-related products, such as the passively managed Digital Transformation ETF (DAPP). VanEck is also expanding crypto investment options, having filed for ETFs linked to digital assets like Avalanche (AVAX) and Binance Coin (BNB), reflecting its active role in the evolving crypto investment space.