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