VanEck Rolls Out New Fund to Invest in Crypto

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Issuer of spot Bitcoin exchange-traded funds (ETF) in the United States, VanEck, has introduced a new program aimed at supporting emerging cryptocurrency and artificial intelligence projects.

Dubbed VanEck Ventures, the fund has a total value of $30 million and focuses on investing in startups in the pre-seed and seed stages. This was announced by the company on October 9.

Among the key areas of investment for VanEck Ventures are tokenized assets, internet-based financial marketplaces, and payment systems using stablecoins and tokenized capital markets.

The fund is managed by Wyatt Lonergan, who previously led Circle Ventures, and Juan Lopez, who headed Circle Ventures’ corporate development and ventures.

Circle Ventures was launched in late 2021 and is a venture fund of Circle Internet Financial, the operator of the popular stablecoin USD Coin.