search
Homeweb3.0VanEck Launches $30M Crypto Fund Targeting Tokenization and Stablecoins
VanEck Launches $30M Crypto Fund Targeting Tokenization and StablecoinsOct 10, 2024 am 04:20 AM
VanEck Crypto FundU.S. Asset Manager

VanEck, the New York-based asset manager with over $115 billion in assets under management has launched a new venture arm dedicated to crypto projects.

VanEck Launches M Crypto Fund Targeting Tokenization and Stablecoins

VanEck Launches Crypto Venture Arm, Aiming for $30M Fund

Renowned asset manager VanEck, boasting over $115 billion in assets under management, has unveiled its latest venture, establishing a dedicated crypto venture arm. The company announced its first crypto fund on Wednesday, aiming to raise $30 million.

This fund will be earmarked for startups at the nexus of fintech, crypto, and artificial intelligence. Notably, VanEck has brought on two former Circle Ventures leaders, Wyatt Lonergan and Juan Lopez, to spearhead this new venture arm. They will also join the asset manager as general partners.

This marks VanEck’s second fund launch in 2023, following the announcement of its Web3 Founders Fund in January, targeting $100 million for early-stage Web3 startups.

VanEck’s foray into crypto began even earlier, with the company filing for a Bitcoin-linked ETF in 2017. It was also among the first to file for a Spot Bitcoin ETF in 2018 and led the line in filing for a Spot ether ETF in 2021.

VanEck’s crypto plans were further evidenced by its Web3 community initiative, launching a 1,000-piece NFT collection called "The Builders" in 2022. The company also expanded its liquid alternative assets investing last year, adding crypto hedge funds to its lineup.

Now, kicking off its venture into venture, VanEck will be the lead investor in its first fund, prioritizing early-stage startups focused on tokenization and stablecoins.

Lopez expressed particular excitement about the opportunities presented by stablecoins, especially in the realm of cross-border payments. He highlighted the potential for stablecoins to disrupt traditional payment rails, paving the way for an “explosion” in fintech built on stablecoins, which he likened to “the open-source banking-as-a-service layer.”

Given the vast business-to-business cross-border payments market, valued at about $39 trillion, Lopez pointed out that on-chain payments systems, such as those on platforms like Solana, could help address the inefficiencies and high costs associated with traditional payment rails.

The new fund plans to make 25-30 investments with checks ranging from $500,000 to $1 million, Lonergan told The Block. The fund is open to both equity and token projects and has already made four unreported investments.

Stay on top of things:

Subscribe to our newsletter using this link – we won’t spam!

Follow us on X and Telegram.

The above is the detailed content of VanEck Launches $30M Crypto Fund Targeting Tokenization and Stablecoins. For more information, please follow other related articles on the PHP Chinese website!

Statement
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn
SHIB Price Could Reach $0.0007 by 2050 if It Follows Bitcoin to Hit $2.9MSHIB Price Could Reach $0.0007 by 2050 if It Follows Bitcoin to Hit $2.9MJul 27, 2024 pm 06:25 PM

Shiba Inu price could potentially reach unprecedented heights if SHIB follows Bitcoin should the premier crypto asset hit $2.9 million as predicted by VanEck.

VanEck Still Committed to Solana ETF Despite Withdrawing 19b-4 FilingVanEck Still Committed to Solana ETF Despite Withdrawing 19b-4 FilingAug 21, 2024 pm 12:12 PM

VanEck is still hopeful of getting its Solana ETF approved. This is despite them having withdrawn the 19b-4 filing from the CBOE website recently.

XRP Price Can Reach $25 if Bitcoin Hits $2.9 Million by 2050, VanEck PredictsXRP Price Can Reach $25 if Bitcoin Hits $2.9 Million by 2050, VanEck PredictsAug 06, 2024 pm 03:34 PM

The crypto market has recently hit a roadblock, with Bitcoin and other assets facing major declines. Consequently, XRP has given up the $0.60 and $0.50 psychological thresholds, triggering angst among seasoned and new investors.

Shiba Inu (SHIB) Could Set a New All-Time High Record if Bitcoin Hits a Market Cap of $61 Trillion, as Projected by VanEckShiba Inu (SHIB) Could Set a New All-Time High Record if Bitcoin Hits a Market Cap of $61 Trillion, as Projected by VanEckSep 09, 2024 pm 03:12 PM

The massive bloodbath across the financial market has not spared Bitcoin, the world's largest crypto by market cap. In the past 24 hours, Bitcoin's price has declined by 2.87%, crashing to $54,455 per BTC.

Bitcoin Whales Stash Away Sats as Market Sentiment Shifts to Neutral TerritoryBitcoin Whales Stash Away Sats as Market Sentiment Shifts to Neutral TerritoryJul 25, 2024 pm 02:48 PM

After reaching greed levels, the crypto market sentiment has shifted back into neutral territory. Bitcoin is currently trading for US$65,521 (AU$99,800), slightly down 0.7% from yesterday.

Asset Manager Grayscale Introduces Crypto Fund for MakerDAO's MKRAsset Manager Grayscale Introduces Crypto Fund for MakerDAO's MKRAug 14, 2024 am 12:48 AM

The company unveiled similar single-asset trusts for TAO and SUI and a fund that invests in a basket of decentralized artificial intelligence-focused tokens over the past month.

Solana (SOL) Price Jumps as Robinhood Activates Transfers for EU Users and VanEck Enables Staking for European ETPSolana (SOL) Price Jumps as Robinhood Activates Transfers for EU Users and VanEck Enables Staking for European ETPOct 23, 2024 am 01:04 AM

When most cryptocurrencies lose their gains, Solana (SOL) is on a mild solo run. As of this writing, the SOL price changed hands at $165.34

VanEck Exec Remains Confident On Solana ETF Launch, Here’s WhyVanEck Exec Remains Confident On Solana ETF Launch, Here’s WhyAug 20, 2024 am 09:17 AM

Matthew Sigel the Head of Digital Asset Research at asset manager VanEck noted that Solana is a commodity like Bitcoin and Ethereum citing legal perspectives

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

AI Hentai Generator

AI Hentai Generator

Generate AI Hentai for free.

Hot Article

R.E.P.O. Energy Crystals Explained and What They Do (Yellow Crystal)
2 weeks agoBy尊渡假赌尊渡假赌尊渡假赌
Repo: How To Revive Teammates
4 weeks agoBy尊渡假赌尊渡假赌尊渡假赌
Hello Kitty Island Adventure: How To Get Giant Seeds
4 weeks agoBy尊渡假赌尊渡假赌尊渡假赌

Hot Tools

mPDF

mPDF

mPDF is a PHP library that can generate PDF files from UTF-8 encoded HTML. The original author, Ian Back, wrote mPDF to output PDF files "on the fly" from his website and handle different languages. It is slower than original scripts like HTML2FPDF and produces larger files when using Unicode fonts, but supports CSS styles etc. and has a lot of enhancements. Supports almost all languages, including RTL (Arabic and Hebrew) and CJK (Chinese, Japanese and Korean). Supports nested block-level elements (such as P, DIV),

SublimeText3 English version

SublimeText3 English version

Recommended: Win version, supports code prompts!

Dreamweaver Mac version

Dreamweaver Mac version

Visual web development tools

Atom editor mac version download

Atom editor mac version download

The most popular open source editor

Zend Studio 13.0.1

Zend Studio 13.0.1

Powerful PHP integrated development environment