Circle Climbs to Top ETF Spot as Veda Pushes Yield Expansion
The post Circle Climbs to Top ETF Spot as Veda Pushes Yield Expansion appeared on BitcoinEthereumNews.com. Two recent developments are pointing to the growing institutional interest in yield-bearing digital assets. Circle Internet Group has become the largest component of VanEck’s global crypto equity index following a sharp post-IPO stock rally, while decentralized finance protocol Veda has raised $18 million to expand its vault platform. Circle Surges to Top of VanEck’s Crypto ETF as CRCL Stock Rockets 750% Above IPO Price Shares of Circle Internet Group (NYSE: CRCL), the company behind the popular USDC stablecoin, have skyrocketed to dominate VanEck’s MVIS Global Digital Assets Equity Index (MVDAPP), a benchmark designed to track the largest and most liquid publicly traded companies in the crypto economy. As of Monday, Circle stock represents a commanding 13% of the index — up from roughly 11% last Friday — surpassing even industry mainstays like Coinbase (COIN) and MicroStrategy (MSTR). The increase suggests not only investor confidence in Circle’s explosive public market performance but also the firm’s growing strategic relevance within the broader digital asset sector. VanEck’s MVDAPP index serves as the backbone for its Digital Transformation ETF, a publicly traded fund launched in 2021 that seeks to replicate the performance of crypto-exposed companies. For inclusion, companies must derive at least 50% of their revenue from digital asset-related businesses. The ETF, which currently holds $210 million in net assets, mirrors the index with a 24-stock portfolio that includes Coinbase, Bitcoin-accumulating Strategy (formerly MicroStrategy), Japanese firm Metaplanet, and Jack Dorsey’s Block. CRCL Stock’s Monumental Rise Post-IPO Circle’s rise to the top of the index is backed by a stunning stock performance following its recent listing on the New York Stock Exchange. Less than three weeks after going public at an IPO price of $31, CRCL shares surged 167% on their first day and have since climbed over 750%, closing Monday above $263. Shares of…
The post Circle Climbs to Top ETF Spot as Veda Pushes Yield Expansion appeared on BitcoinEthereumNews.com.
Two recent developments are pointing to the growing institutional interest in yield-bearing digital assets. Circle Internet Group has become the largest component of VanEck’s global crypto equity index following a sharp post-IPO stock rally, while decentralized finance protocol Veda has raised $18 million to expand its vault platform. Circle Surges to Top of VanEck’s Crypto ETF as CRCL Stock Rockets 750% Above IPO Price Shares of Circle Internet Group (NYSE: CRCL), the company behind the popular USDC stablecoin, have skyrocketed to dominate VanEck’s MVIS Global Digital Assets Equity Index (MVDAPP), a benchmark designed to track the largest and most liquid publicly traded companies in the crypto economy. As of Monday, Circle stock represents a commanding 13% of the index — up from roughly 11% last Friday — surpassing even industry mainstays like Coinbase (COIN) and MicroStrategy (MSTR). The increase suggests not only investor confidence in Circle’s explosive public market performance but also the firm’s growing strategic relevance within the broader digital asset sector. VanEck’s MVDAPP index serves as the backbone for its Digital Transformation ETF, a publicly traded fund launched in 2021 that seeks to replicate the performance of crypto-exposed companies. For inclusion, companies must derive at least 50% of their revenue from digital asset-related businesses. The ETF, which currently holds $210 million in net assets, mirrors the index with a 24-stock portfolio that includes Coinbase, Bitcoin-accumulating Strategy (formerly MicroStrategy), Japanese firm Metaplanet, and Jack Dorsey’s Block. CRCL Stock’s Monumental Rise Post-IPO Circle’s rise to the top of the index is backed by a stunning stock performance following its recent listing on the New York Stock Exchange. Less than three weeks after going public at an IPO price of $31, CRCL shares surged 167% on their first day and have since climbed over 750%, closing Monday above $263. Shares of…
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