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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. <\/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’s Digital Assets Alpha Fund (DAAF), which oversees more than $100 million in net assets as of May 21. <\/p>\n “The next wave of value in crypto will come from real businesses, not more infrastructure,” Pranav Kanade, portfolio manager for DAAF, said in a statement.<\/p>\n Related: <\/strong><\/em>Tokenized stocks could top $1T in market cap — Execs<\/strong><\/em><\/a><\/p>\n VanEck’s 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. <\/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. <\/p>\n Asset managers such as VanEck are requesting the US Securities and Exchange Commission’s (SEC) permission to list upward of 70 crypto<\/a> ETFs. <\/p>\n The wave of ETF filings is in response to US President Donald Trump softening the agency’s regulatory stance toward crypto after Trump took office in January.<\/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. On 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. <\/p>\n “We’re seeing a shift away from speculative hype toward real utility and sustainable token economies,” John Nahas, chief business officer at Ava Labs, said in a statement.<\/p>\nThematic crypto funds<\/h2>\n
Avalanche RWA ecosystem<\/h2>\n