VanEck confirms a new ETF that investors can use to participate in the crypto market. But it’s not the big hit yet.
VanEck’s Bitcoin ETF specialists announced the approval of a new ETF on Wednesday, April 14th. As VanEck announced, the VanEck Vectors are concentrated® Digital Transformation ETF (NASDAQ: DAPP) on companies that rely on “digital transformation”. This refers to companies that “generate at least 50 percent of their sales with digital assets”. These can be mining companies, exchanges, or hardware companies that manufacture ASICs, for example.
Companies such as Coinbase or MicroStrategy are also likely to be part of the Exchange Traded Fund. Although DAPP is expressly not a Bitcoin ETF, the Exchange Traded Fund is also indirectly based on the course of BTC. After all, with rising crypto prices, an entire industry is maturing, and investors can now participate in its growth.
However, the announcement is not the very big hit that market observers had expected based on a hint from VanEck Digital Asset Director Gabor Gurbacs. After all, Gurbacs had already made hints in advance that some had interpreted as an indication of an upcoming Bitcoin index fund. So he wrote down Twitter: “What if the Coinbase IPO isn’t the biggest news of the day?”.