The VanEck Crypto and Blockchain Innovators UCITS ETF (ISIN IE00BMDKNW35), also known as VanEck Crypto UCITS ETF, is a European-listed fund that provides exposure to companies shaping the digital asset economy. Launched in April 2021, the ETF tracks the MVIS Global Digital Assets Equity Index and includes firms with strong involvement in crypto-related businesses.
Key Features & Fund Metrics
VanEck Crypto UCITS ETF gives investors a straightforward route to access crypto-focused equities. As of July 2025, the fund has over $520 million in net assets and a Net Asset Value (NAV) of $12.15 per share. It has returned approximately 18.8% year-to-date and maintains a total expense ratio (TER) of 0.65%. The fund is classified under SFDR Article 6 and undergoes quarterly rebalancing to reflect changes in the blockchain and digital asset industry.
Investment Strategy & Index Focus
The ETF follows a full replication strategy, meaning it holds all stocks listed in the underlying index. The MVIS Global Digital Assets Equity Index includes publicly traded companies that derive at least 50% of their revenue from digital assets or hold substantial digital asset portfolios. To be included, companies must meet a minimum market capitalization threshold and maintain sufficient trading volume, ensuring liquidity and relevance.
Top Holdings Overview
The VanEck Crypto ETF usually contains around 20 to 25 holdings. The portfolio focuses heavily on companies deeply connected with blockchain technologies, digital infrastructure, and cryptocurrency mining or trading. Some of the top holdings typically include:
Metaplanet Inc – A firm involved in Bitcoin accumulation
MicroStrategy – Known for its aggressive Bitcoin investment strategy
Coinbase – One of the world’s leading crypto exchanges
DeFi Technologies – A platform focused on decentralized finance solutions
Block Inc (formerly Square) – Offers blockchain-based payment systems
Core Scientific – A crypto mining and infrastructure company
Marathon Digital Holdings – A Bitcoin mining leader
Galaxy Digital – Operates in crypto trading, asset management, and banking
Together, the top 10 holdings make up nearly 65% of the fund, reflecting a concentrated investment approach in high-conviction assets.
Performance Insights
Performance-wise, VanEck Crypto UCITS ETF has shown resilience and high growth potential, albeit with notable volatility. Over a 1-month period, the ETF gained over 27%. Its 3-month performance surged by 82%, and the fund has climbed approximately 41% over the past year. While the year-to-date gain stands at around 13.8%, this comes after a strong rebound from previous bear cycles. For instance, the ETF witnessed a steep decline in 2022 but followed up with a substantial rally in 2023 and 2024.
Risk Considerations
Like most crypto-themed investments, VanEck Crypto UCITS ETF carries a high-risk, high-reward profile. Here are the key risks:
High volatility – Crypto-related stocks often mirror the turbulent behavior of digital currencies
Concentration risk – The fund is heavily weighted toward its top 10 holdings, leading to limited diversification
Liquidity risk – Some small-cap blockchain companies in the portfolio may have limited liquidity
Regulatory impact – Changes in crypto regulations can significantly influence valuations
Currency exposure – Although the fund is USD-denominated, it can be traded in EUR or GBP, which may involve FX risk for some investors
Why Choose VanEck Crypto UCITS ETF?
Investors looking for structured exposure to crypto and blockchain industries often turn to VanEck Crypto ETF for its:
Diversified crypto equity exposure – Covers mining, exchanges, and DeFi tech
European UCITS structure – Offers a regulated and tax-efficient investment vehicle
Physical replication – Holds actual stocks instead of using synthetic derivatives
Quarterly rebalancing – Ensures relevance by capturing new crypto innovators entering the space
Transparency – Backed by clear methodology and full holdings disclosure
How to Invest in the ETF
The VanEck Crypto UCITS ETF trades on several major European exchanges, including the London Stock Exchange (LSE) under the ticker DAGB and Xetra (Frankfurt) under the ticker DAVV. The ETF is accessible via brokers that offer UCITS-compliant ETFs and can be held in standard investment accounts, ISAs, and SIPPs. It follows an accumulating distribution model, meaning any income generated is reinvested into the fund rather than paid out.
Ideal Investor Profile
This ETF is best suited for:
Investors with medium to high-risk tolerance
Those seeking long-term exposure to blockchain and crypto-related equities
European and UK investors preferring a UCITS-compliant structure
Portfolio builders interested in adding a thematic growth segment
Individuals avoiding direct crypto ownership but wanting exposure through traditional equity
VanEck Crypto vs Direct Crypto Investing
Unlike direct crypto investing, which requires wallet setup and private key management, VanEck Crypto UCITS ETF offers:
Lower entry barriers for traditional investors
No need to manage digital wallets or private keys
Built-in regulatory oversight through UCITS framework
Daily liquidity and transparent pricing
However, it’s important to note that equity-based crypto exposure doesn’t fully replicate the movements of underlying cryptocurrencies like Bitcoin or Ethereum. Stocks may also respond differently due to operational performance, market sentiment, or regulatory shifts.
Outlook for 2025 and Beyond
The future of blockchain, digital payments, and decentralized finance remains promising. With institutional interest in crypto on the rise and innovations in tokenization, smart contracts, and blockchain infrastructure accelerating, funds like the VanEck Crypto UCITS ETF are well positioned to benefit from this long-term trend.
However, macroeconomic conditions, global regulations, and evolving technology will continue to influence this sector. Investors should remain informed and flexible as the landscape changes rapidly.
Final Thoughts
VanEck Crypto and Blockchain Innovators UCITS ETF provides a unique opportunity for investors to gain broad exposure to the digital asset revolution through regulated markets. With a strong lineup of industry leaders, thematic focus, and growing investor interest, it remains one of the top choices in the European ETF space for crypto equity access.
Whether you’re looking to diversify your portfolio, tap into high-growth tech sectors, or ride the wave of financial innovation, VanEck Crypto offers a secure and accessible pathway to participate in the blockchain future.
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