VanEck has launched the VanEck Fabless Semiconductor ETF (SMHX), targeting companies that design chips but outsource manufacturing. This ETF complements VanEck's existing $23 billion Semiconductor ETF (SMH). SMHX focuses on fabless semiconductor companies that allocate more resources to innovation and R&D, avoiding high manufacturing costs.
SMHX tracks the MarketVector™ US Listed Fabless Semiconductor Index (MVSMHX), including companies with at least 50% of revenues from fabless semiconductor business. The fund aims to capitalize on the CHIPS Act and increasing demand for semiconductors in AI and other technologies. VanEck positions SMHX as an opportunity for investors focused on innovation and R&D in the semiconductor industry.
VanEck announces the launch of the VanEck Ethereum ETF (ETHV), offering spot ether exposure via the Cboe BZX Exchange. ETHV will waive sponsor fees until July 22, 2025, or until the first $1.5 billion in AUM is reached, with a subsequent fee of 0.20%. VanEck has been a leader in digital assets, filing for a spot ether ETF in 2021 and launching the VanEck Bitcoin Trust (HODL) earlier this year. ETHV joins VanEck’s suite of digital asset solutions, including the VanEck Digital Transformation ETF (DAPP) and various crypto-focused products in Europe. VanEck's expertise in digital assets is underscored by its extensive range of crypto ETPs, amounting to approximately $2 billion globally.
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VanEck announces a 2-for-1 forward stock split for the VanEck Semiconductor ETF (NASDAQ: SMH), effective at market open on May 4, 2023. Investors holding shares as of the close on May 3, 2023 will have their shares split accordingly. The ETF will maintain the same CUSIP and ticker symbol, with new shares trading at a split-adjusted price. This action is part of VanEck's strategy to enhance investor benefits based on factors like market price and trading volume. Importantly, forward stock splits do not affect the market value of an investor's holdings, nor do they incur tax consequences. VanEck manages approximately $76.4 billion in assets across various investment vehicles, focusing on both active and passive strategies.
VanEck has announced the liquidation of the VanEck Digital Assets Mining ETF (Ticker: DAM), following a decision by the Board of Trustees on April 11, 2023. The ETF's liquidation is based on an assessment of performance, liquidity, and investor interest. Shareholders can sell their shares on the Nasdaq until market close on April 24, 2023, after which they will no longer trade. The liquidation is expected to occur around May 1, 2023, with cash distributions to shareholders reflecting the ETF’s net asset value. A special distribution schedule has also been provided, with key dates spanning from April 14 to April 21, 2023. As of February 28, 2023, VanEck managed approximately $71.0B in assets across various investment strategies.