Asset management firm VanEck filed for a new exchange-traded fund (ETF) on Wednesday, targeting companies building digital asset infrastructure.

Notably, the fund's structure avoids direct exposure to cryptocurrencies, as is typical of other ETFs, but maintains exposure to the digital asset markets it collects.

The Onchain Economy ETF seeks to allocate at least 80% of its assets to “digital transformation companies” and digital asset instruments, according to a January 15 report. SEC filing Reviewed by Decryption.

These companies include cryptocurrency exchanges, payment gateways, mining operations, and companies providing infrastructure services.

It also seeks to invest in companies that provide the underlying technology, infrastructure and data center capabilities that support digital asset operations.

“Digital transformation companies are selected based on a combination of fundamental analysis, market trends, the company's strategic position within the digital asset ecosystem, and valuation,” VanEck said in the filing.

However, for digital asset vehicles, VanEck notes in its filing that while it seeks to “target investments that provide exposure to the largest digital assets by market cap,” this fund will exclude stablecoins.

It is unclear whether this description also applies to stablecoin issuers more broadly or is limited to their products and offerings. VanEck did not return immediately Decryption Request for comment.

The fund plans to establish a subsidiary in the Cayman Islands to manage certain digital asset investments, with a maximum exposure of 25% of total assets each quarter.

VanEck's latest filing follows a wave of new cryptocurrency ETF filings. In November, Bitwise presented plans to 10 Cryptocurrency Index Fund ETFwhile Grayscale submitted an application for Convert his Solana box To the ETF in December last year.

Wednesday's filing follows VanEck's filing ending From the Ethereum Futures ETF in September last year.

VanEck Head of Digital Assets Matthew Siegel It has been deleted Post about the submission, likely due to regulatory restrictions in which the SEC prohibits the disclosure of certain details while the proposal is under review.

Modified by Sebastian Sinclair