Investment Firm VanEck recently launched a mining ETF (DAM) that will go public this Wednesday. The stocks that comprise it include:
- Marathon Digital Holdings Inc (8.3%)
- Riot Blockchain Inc. (11%)
- Hive Blockchain Technologies Ltd. (6.3%)
- Hut 8 Mining Corp (9.1%)
- Iris Energy (IREN) is 7%
- Canaan (CAN) is 6.5%.
Some of the other small miners and mining manufacturing companies are Northern Data (NB2.GR) 5.8%, Block (SQ) 5.7%, Bitfarms (BITF) 5.6%, etc.
VanEck’s Head of Product Management, Ed Lopez, stated with regards to that:
“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.”
This fund is going to invest nearly 80% of its assets in crypto miners’ stocks and would also track the MVIS Digital Asset Mining Index.
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As per a post-effective filing with the U.S. Securities and Exchange Commission on October 20th, VanEck revealed that it had received approval from the market regulator for launching its own Bitcoin-linked ETF.
VanEck is working on launching the exchange-traded fund or ETF after delay as it received U.S. Securities and Exchange Commission approval in October 2021 itself.
Another local exchange in Australia listed a new crypto-miner ETF in October, trying to track miners and infrastructure providers globally.