VanEck Launches PurposeBuilt Fund on Avalanche: Betting Big on Real-World Crypto Businesses

Forget the Hype, Focus on Value

Hold onto your hats, crypto fans! Asset manager VanEck is shaking things up with a new long-term digital assets fund that's all about backing real businesses on the Avalanche blockchain. They're done with the hype-driven tokens and ready to invest in what really matters.

PurposeBuilt Fund: The Details

VanEck dropped the bombshell on Tuesday: they're launching the PurposeBuilt Fund in June, and it's all about tokenized businesses building on Avalanche (AVAX). We're talking long-term value and utility, folks, not just chasing the latest trend.

Investing in the Future

In a press release that set the crypto world buzzing, the New York-based asset managers revealed that the fund will be throwing its weight behind liquid tokens and venture-backed crypto projects in hot sectors like gaming, payments, AI, and financial services. They'll be focusing on projects around or after their token generation event. But that's not all - they'll also be putting idle capital to work on-chain through Avalanche-native real-world asset products, like tokenized money market funds. Talk about putting your money where your mouth is!

Pranav Kanade: No More Hype

Pranav Kanade, the mastermind behind the VanEck Digital Assets Alpha Fund, isn't mincing words. He's done chasing hype and short-term trends. "The next wave of value in crypto will come from real businesses, not more infrastructure," he declares. It's time to get serious about building lasting value.

"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

Team with a Track Record

The new fund will be in the capable hands of the team that's been killing it with the VanEck Digital Assets Alpha Fund. They've got over $100 million in assets under management and have been at it since 2022. These guys know their stuff.

Avalanche's Rising Star

This announcement comes at a time when Avalanche is hotter than ever among institutional investors. Grayscale recently threw their hat in the ring, filing to convert their Avalanche Trust, launched in August 2024, into a spot exchange-traded fund. They submitted a 19b-4 filing to Nasdaq in late March to list the fund and offer regulated exposure to AVAX. It's still waiting on SEC approval, but the momentum is undeniable.