VanEck plans to launch a private digital assets fund in June targeting tokenized Web3 projects built on the Avalanche blockchain network, the asset manager said in a statement shared with Cointelegraph.<\/p>\n
The VanEck PurposeBuilt Fund, available only to accredited investors, aims to invest in liquid tokens and venture-backed projects across Web3 sectors, including gaming, financial services, payments, and artificial intelligence.\u00a0<\/p>\n
Idle capital will be deployed into Avalanche (AVAX<\/a>) real-world asset (RWA) products, including tokenized money market funds, VanEck said.<\/p>\n The fund will be managed by the team behind VanEck\u2019s Digital Assets Alpha Fund (DAAF), which oversees more than $100 million in net assets as of May 21.\u00a0<\/p>\n \u201cThe next wave of value in crypto will come from real businesses, not more infrastructure,\u201d Pranav Kanade, portfolio manager for DAAF, said in a statement.<\/p>\n RWAs are among crypto\u2019s fastest-growing segments. Source: <\/em>RWA.xyz<\/em><\/a><\/p>\n Related: <\/strong><\/em>Tokenized stocks could top $1T in market cap \u2014 Execs<\/strong><\/em><\/a><\/p>\n VanEck\u2019s PurposeBuilt Fund is the latest in a series of funds from the asset manager and rivals designed to offer exposure to projects and companies in fast-growing segments of Web3.\u00a0<\/p>\n On May 14, VanEck launched a new actively managed exchange-traded fund<\/a> (ETF) to invest in stocks and financial instruments providing exposure to the digital economy.<\/p>\n In April, VanEck launched another ETF investing in a passive index of companies operating in the crypto space.\u00a0<\/p>\n Asset managers such as VanEck are requesting the US Securities and Exchange Commission\u2019s (SEC)\u00a0permission to list upward of 70 crypto<\/a>\u00a0ETFs.\u00a0<\/p>\n The wave of ETF filings is in response to US President Donald Trump softening the agency\u2019s regulatory stance toward crypto after Trump took office in January.<\/p>\n Avalanche TVL as of May 21. Source: <\/em>DefiLlama<\/em><\/a><\/p>\n Avalanche has emerged as a hub for real-world assets (RWAs) and other institutional-oriented crypto projects. <\/p>\n Its interrelated networks, called subnets, allow institutions to run Ethereum-style smart contracts in a controlled environment.\u00a0On May 16, Solv Protocol launched a yield-bearing Bitcoin token<\/a> on the Avalanche blockchain, targeting institutional investors<\/p>\n Avalanche has around $1.5 billion in total value locked (TVL) as of May 21, according to data<\/a> from DefiLlama.\u00a0<\/p>\n \u201cWe\u2019re seeing a shift away from speculative hype toward real utility and sustainable token economies,\u201d John Nahas, chief business officer at Ava Labs, said in a statement.<\/p>\nThematic crypto funds<\/h2>\n
Avalanche RWA ecosystem<\/h2>\n