Mining

Digital asset mining ETF filed with SEC by Van Eck

After the ambitious filing for Van Eck’s first Bitcoin spot ETF was rejected by the SEC, the New York-based firm has returned to launch a BTC future ETF.

The ETF appears to mimic the MVIS Global Digital Asset Mining Index, which tracks yields and profits for public businesses that commit a majority of their activities to digital asset mining.

In Van Eck’s filing documents, it is specified that the proposed ETF would not invest in digital assets directly, which suggests the activities of the fund are likely to focus on equity investing in leading mining firms.

Van Eck targets flourishing mining stocks

Stock markets have been receptive to digital asset mining this year, with an impressive 217% rate of return in 2021 driving great exposure to the industry in more familiar asset classes for many investors.

Bitfarm hit record highs in mining power back in October which sent its stocks flying. Both Marathon Digital and Hive Mining have also posted strong returns this year.

Van Eck’s ETF will not be the first set-up to try and capture market share here, amongst the biggest in the space is Amplify’s Transformational Data Sharing ETF, which has been around for a number of years taking serious equity positions in huge players like Riot blockchain and Marathon.