VanEck to Launch ETF on Shares of Gold and Crypto Mining Companies
VanEck filed an application with the US Securities and Exchange Commission (SEC) to launch a “gold mining” ETF.
According to the filing, VanEck Gold and Digital Assets Mining will track an index that will include stocks of gold mining and cryptocurrency mining companies in the basket. There will be no direct investment in digital assets. In addition, the order does not specify the ticker and management fee.
In a conversation with Blockworks, ETF.com analyst Sumit Roy noted that investments in such ETFs represent quasi-investments in cryptocurrencies and the precious metal. He also does not expect such an ETF to be as popular as specialized funds, since investors who buy Bitcoin differ from those who buy gold.
Previously, VanEck and ProShares withdrew their Ethereum ETF request with the US SEC just two days after filing for registration.