Crypto-Follow logo Crypto-Follow logo
Seeking Alpha 2022-03-09 13:39:07

New crypto mining ETF hits the market

VanEck has unveiled a new ETF focused on the crypto mining space, adding to a growing list of exchange traded funds aimed at blockchain-related companies. The company revealed the launch of its VanEck Digital Assets Mining ETF (DAM), which offers exposure to stocks that participate in the digital assets and mining economy. While the fund does not directly invest in crypto assets like Bitcoin (BTC-USD) or Ethereum (ETH-USD), it invests in companies involved in the underlying assets. The fund aims to track the performance of the MVIS Global Digital Assets Mining Index. The ETF will rebalance itself every quarter. Additionally, DAM trades on the Nasdaq and comes forward with a 0.50% expense ratio. Ed Lopez, VanEck’s Head of Product Management, stated: “Blockchains introduce transparency, efficiency and lower costs compared to traditional centralized databases and processes, but without miners, blockchain transactions cannot be verified and audited, making their role absolutely essential.” DAM

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer