VanEck’s new fund targets real-world utility in Avalanche ecosystem

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VanEck’s Avalanche Fund: The Real Deal or Just Another Crypto Circus? 🎪💰

Ah, the illustrious asset manager VanEck, stepping into the digital realm with a fund that promises to be more than just a shiny token! They’re launching a long-term digital assets fund, aiming to support real businesses in the Avalanche ecosystem, rather than just chasing after the latest hype-driven tokens like a dog after a squirrel. 🐶💨

On a fine Tuesday, VanEck announced that come June, they will unveil the PurposeBuilt Fund. This fund is set to invest in tokenized businesses that are actually building something on Avalanche (AVAX) — you know, the kind of long-term value that makes you feel warm and fuzzy inside, rather than the fleeting thrill of a pump-and-dump scheme. 🥳

In a press release that could make even the most jaded crypto enthusiast raise an eyebrow, the New York-based asset manager revealed that the fund will back liquid tokens and venture-backed crypto projects across various sectors like gaming, payments, AI, and financial services. All this, primarily around or after a token generation event. They’re also planning to deploy idle capital on-chain through Avalanche-native real-world asset products, such as tokenized money market funds. Because who doesn’t want their money to be as busy as a bee? 🐝💼

Pranav Kanade, the portfolio manager of the VanEck Digital Assets Alpha Fund, made it clear: this fund won’t be chasing after hype or short-term trends. He boldly declared that the next wave of value in crypto will sprout from real businesses, not just more infrastructure. Well, isn’t that refreshing? 🌱

“Avalanche has become a magnet for thoughtful builders, and with the VanEck PurposeBuilt Fund, we’re bringing capital and conviction to the founders creating lasting value, not chasing momentum.”

— Pranav Kanade

The new vehicle will be managed by the same team behind the VanEck Digital Assets Alpha Fund, which, by the way, boasts over $100 million in assets under management. They launched this fund back in 2022, proving that they might just know a thing or two about handling money. 💸

This announcement comes at a time when institutional interest in Avalanche is growing faster than a weed in a garden. Grayscale recently filed to convert its Avalanche Trust, which was launched in August 2024, into a spot exchange-traded fund. In late March, they even submitted a 19b-4 filing to Nasdaq to list the fund and offer regulated exposure to AVAX. But hold your horses; it still needs SEC approval. 🐴⚖️

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2025-05-21 15:53