VanEck has introduced the Wealth Builder ETF, trading on the NYSE under the ticker WBMO. The fund is actively managed and offers investors a diversified portfolio that includes global stocks, bonds, gold, and indirect exposure to bitcoin. VanEck currently oversees approximately $244 billion in assets.
The fund does not hold bitcoin directly. Instead, it gains exposure through a wholly owned Cayman Islands subsidiary that invests in exchange-traded products. This subsidiary is generally capped at 25% of total assets at each quarter-end, covering multiple asset categories without a specific target for bitcoin.
The gross expense ratio for the fund is 0.33%, which is reduced to a net ratio of 0.26% due to a 0.07% fee waiver. Investors should note that the underlying bitcoin products charge their own separate fees. VanEck also highlighted that digital asset ETPs can be highly volatile.
VanEck previously adjusted the bitcoin ETP exposure in its NODE fund, increasing it from approximately 7% at the end of June to 16.8% by the end of September. This fund focuses on blockchain companies, demonstrating the firm's broader strategy regarding crypto-linked assets in its portfolios.
