VanEck Seeks to Launch an ETF Tracking Digital Assets Mining Index

ETF Tracking Digital Assets Mining Index

VanEck investments manager has applied to launch an ETF that tracks the price and yield performance of the Global Digital Assets Mining Index.

The index focuses on the performance of companies in digital mining, including firms that provide software development services and hardware infrastructure.

The fund is expected to invest at least 80% of its allocation in DAMC securities but not via derivatives such as futures and options. The ETF would not track the price movements of any cryptocurrency.

VanEck adds that the fund would provide exposure to firms dealing in the digital assets or holding them and are presented in the index.

The application notes that the risks in the digital mining industry include supply chain issues, technological obsolescence, and those around obtaining new hardware. The firm says that most miners rely on services abroad.

Source: SEC

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