VanEck Launches Mining ETF on List Today

Investment firm VanEck has launched a mining ETF (DAM), which will officially go public on Wednesday.

Its constituent stocks include Marathon Digital Holdings Inc (8.3%), Riot Blockchain Inc. (11%), Hive Blockchain Technologies Ltd. (6.3%) and Hut 8 Mining Corp (9.1%), Iris Energy (IREN) is 7%, Canaan (CAN) is 6.5%.

Other smaller miners and mining manufacturing companies include Northern Data (NB2.GR) 5.8%, Block (SQ) 5.7%, Bitfarms (BITF) 5.6%, etc.

VanEck Head of Product Management Ed Lopez said in a statement 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,”

The fund will invest at least 80% of its assets in the stock of crypto miners and will track the MVIS Digital Asset Mining Index.

According to a post-effective filing with the US Securities and Exchange Commission on October 20, VanEck revealed that it had secured approval from the market regulator to launch its Bitcoin-linked ETF.

VanEck is preparing to launch its Bitcoin futures exchange-traded fund (ETF) after delays since winning the US Securities and Exchange Commission's (SEC) approval in October 2021.

A local exchange in Australia also lists a new crypto-miner ETF for the first time in October, aiming to track well-known miners and infrastructure providers worldwide.