VanEck launches new digital transformation ETF
Apr. 14, 2021 10:42 AM ET Bitcoin USD (BTC-USD) By: Jason Capul, SA News Editor
VanEck has launched a new exchange traded fund called the VanEck Vectors Digital Transformation ETF (DAPP).
DAPP will provide market participants access to organizations driving digital transformation across the global economy.
A few key facts to understand about DAPP is that it will provide coverage to companies that have the potential of getting 50% of their revenue from digital assets and it will provide exposure to cryptocurrency exchanges, miners, and other infrastructure companies.
DAPP can be looked at by market participants as an indirect way to gain exposure to bitcoin ( BTC-USD) and the crypto market.
Ed Lopez, Managing Director, Head of ETF Product for VanEck, stated: “The digitalization of the global economy has been picking up steam for the past several years, and as digital assets mature, this has driven the growth of several innovative companies—not only miners of digital assets, but also digital asset exchanges, payments, services, storage, e-commerce and much more.”
Lopez continued to say: “To this point, however, investors have had to choose among funds that too often included companies only tangentially involved with digital assets. That is something we’ve sought to solve with the launch of DAPP, a fund we’re very excited to be bringing to market.”
DAPP has a total of 25 holdings and comes to market with an expense ratio of 0.65%. See the full fact sheet page on DAPP.
Furthermore, DAPP’s number one holding of 9.47% is in Galaxy Digital Holdings Ltd, which yesterday filed for a bitcoin ETF. |
