VanEck, the investment entity taking care of management for roughly $82 billion in assets – reportedly filed for an application with the US SEC, regarding the introduction of a new exchange-traded fund (ETF). 

Specifically, per the details in the SEC filing, the fund will reportedly concentrate primarily on securities in an index which tracks how gold mining and digital assets mining companies are performing. 

The fund would reportedly not make investments in crypto in a direct manner or via derivatives. 

Nonetheless, there was no ticker or cost ratio mentioned in the document.

The update related to the proposed fund of VanEck reportedly surfaced amid the time where concerns regarding a fresh round of U.S. regulation are present across the market. 

The U.S. president, Joe Biden, is reportedly expected to give his signature to an executive order this month, which will give way to the nation’s crypto strategy, providing instructions to federal agencies including the SEC to send in reports related to the methods they employed, when it comes to digital assets, in 2022. 

The administration has reportedly received heavy criticism for providing insufficient clarity in terms of crypto legislation. 

In November, the SEC reportedly gave the redlight to a VanEck ETF, which plans to purchase BTC in a direct fashion. Regardless of big names in the sector advocating for one for years, the regulator has not yet granted approval for a fund of that kind. 

With the foundation for regulating the crypto sphere kickstarting, regulators may be postponing giving the greenlight to that kind of ETFs until a more solid regulatory framework is established.